SpaceX's Q3 revenue exceeded expectations.
56 minutes ago
SpaceX (SPCX.O)’s financial results show that driven by growth in its artificial intelligence (AI) and Starlink businesses, its third-quarter revenue more than doubled, beating market expectations. Meanwhile, capital expenditure nearly tripled due to investments in computing infrastructure, and its stock price rose around 3% in after-hours trading at one point. However, SpaceX’s in-house AI software—including Grok from its subsidiary xAI—has so far lagged behind rivals OpenAI, Anthropic, and Google. SpaceX’s third-quarter revenue hit $14.58 billion, above analysts’ forecast of $12.72 billion, and it posted a net profit of $4.4 billion in the three months ended September 30, versus analysts’ prior expectation of $1.57 billion. AI revenue surged more than ninefold to $7.6 billion, mainly from computing power leasing. Of the company’s $19.6 billion in total capital expenditure, AI-related costs accounted for $16.4 billion, and SpaceX expects this level to stay unchanged in the near term. In the third quarter, Starlink’s user count reached 13.6 million, exceeding analysts’ forecast of 12.19 million, but this growth came with a tradeoff: as the company expands overseas by rolling out cheaper plans, its average revenue per user (ARPU) fell from $99 in 2023 to $69 in the third quarter.
OKX-ICE Co-Chair: Enterprises’ opposition to tokenized stock plans is a "normal reaction" and in line with expectations.
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US side says Russia-Ukraine peace talks have made progress, Bitcoin remains volatile, and US major stock indexes are mixed.
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U.S. special presidential envoy will submit a peace plan to Vladimir Putin after holding talks with Volodymyr Zelenskyy.
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Bitcoin yield platform HoneyB’s developer completes $5 million funding round at a $30 million valuation.
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Utah’s Attorney General sues Kalshi, seeks to recoup its ill-gotten gains.
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Wall Street institutions urge US SEC to revise the Crypto Asset Regulation, public comment period concludes.
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