SpaceX swings to profit on AI infrastructure boom, but capex bill is climbing
SpaceX Corp (NASDAQ:SPCX) is becoming an AI infrastructure company that also happens to launch rockets, according to analysts. The market rewarded the shift Wednesday, sending shares up more than 10% after third-quarter results beat estimates in each of its three segments. The numbers explain the reaction. Revenue in the AI infrastructure segment (SI) reached $7.6 billion, versus $2.6 billion a quarter earlier and a Street forecast of $6.5 billion. EBITDA of $5 billion, against $4 billion expected, came ...