SpaceX announced its second-quarter earnings, with revenue of $7.8 billion exceeding expectations, but its AI capital expenditure of $18.369 billion (of which $16 billion was allocated to AI infrastructure), higher than the anticipated $13.2 billion, caused its stock to drop more than 5% in after-hours trading. Elon Musk stated that SpaceX’s goal of achieving $1 trillion in annual revenue could be accelerated to 2030, and unveiled plans to build robotic manufacturing facilities on the Moon. In the second quarter, Starlink generated $4.3 billion in revenue with 12 million users; AI business revenue reached $2.561 billion, and rocket business revenue amounted to $962 million. SpaceX plans to continue using NVIDIA AI chips and expects its AI business to reach an annualized revenue of $10 billion by December this year.
SpaceX Q2 revenue exceeds expectations, but stock declines after earnings
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Summary
SpaceX's Q2 revenue reached $7.8 billion, surpassing forecasts, but shares dropped over 5% after earnings due to $18.369 billion in AI capital spending. Elon Musk reaffirmed the $1 trillion revenue target by 2030 and outlined plans for lunar robotic production. Starlink revenue hit $4.3 billion with 12 million users, while AI business revenue totaled $2.561 billion and rocket sales generated $962 million. The company will continue using NVIDIA AI chips and aims for $10 billion in annualized AI revenue by late 2026. This on-chain news underscores the growing convergence of AI and crypto developments.
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