SpaceX Reports $4.4 Billion Profit and AI Spending Surge
SpaceX reported a $4.4 billion quarterly profit driven by Starlink growth and announced a plan to give shares to every American child.
Space Exploration Technologies Corp. reported a profit of $4.4 billion for the quarter ending September 30, reversing a $1.05 billion net loss from the previous year. Revenue more than doubled to $14.5 billion, surpassing Wall Street projections of $13 billion. This financial growth was primarily driven by artificial intelligence products and the Starlink satellite internet service, which has reached 13.6 million consumer subscribers.
To sustain this expansion, the company increased capital expenditures to $19.6 billion. Spending on AI alone rose by $4.6 billion compared to the previous year. Chief Financial Officer Bret Johnsen stated that the company is building the infrastructure of the future with discipline. SpaceX shares rose more than 2 percent in after-hours trading following the announcement.
In a separate initiative, Elon Musk pledged to provide one share of SpaceX to every child in the United States next year. This distribution would occur through a government-operated savings account program supported by President Donald Trump.
