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3d ago

SpaceX Posts Record $7.8 Billion Quarter as Sky‑High AI Spending Rattles Investors

The company’s strong Starlink growth masks large AI losses and massive capital outlays that raise near‑term selling risk and questions about when the business will turn a sustained profit.

El fuerte gasto en inteligencia artificial opacó la mejora de los ingresos y los márgenes.
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El cilindro, de más de 12 metros de largo, partió desde Cabo Cañaveral en enero de 2025 para transportar dos módulos privados y había quedado a la deriva

Overview

  • SpaceX reported roughly $7.8 billion in revenue for the second quarter, a 92% year‑on‑year increase, but still posted a $541 million net loss in its first public quarterly filing released Tuesday.
  • Starlink generated about $4.29 billion in the quarter and was the only profitable division, supplying the cash flow that underpins SpaceX’s growth narrative.
  • The company’s AI businesses brought in roughly $2.56 billion in revenue but showed an operating loss near $1.26 billion as SpaceX spent about $18.4 billion in Q2 on capital projects tied largely to xAI and AI infrastructure.
  • Investors punished the stock after the report, with swings and steep drops in the sessions that followed, and the imminent expiry of a lockup for about 911–912 million shares on Thursday adds a clear near‑term risk of forced selling.
  • Management announced a strategic partnership with NVIDIA to build space‑capable AI payloads and outlined big plans for chip fabrication and space data centers, leaving markets focused on 2027 CapEx plans and whether multiyear investments will convert into sustained profitability.