SpaceX's revenue jumps 92% with AI and Starlink
During the second quarter of its fiscal year, SpaceX achieved a 92% growth in revenue, surpassing analyst expectations by about one billion dollars, thanks to AI deals and the Starlink satellite service. Despite the rising revenues, the company continues to spend heavily, with capital expenditures exceeding $18 billion, more than 86% of which were allocated to AI. The number of Starlink subscribers increased to 12 million, helping to reduce the company's losses to $541 million. Despite these positive results, the company's stock fell by over 7% after markets closed, and investors remain skeptical about how quickly tangible results will be achieved in the future.
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