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SpaceX shares surge as AI revenue rises ninefold to $7.6 billion
SpaceX shares rose 2.5% after hours as its AI revenue rose more than ninefold to $US7.6 billion and quarterly profit beat estimates.
SpaceX posted a third-quarter profit that beat estimates, with revenue more than doubling, according to ABC News. The company's AI revenue rose more than ninefold to $US7.6 billion, and shares rose 2.5% in extended trading. Capital expenses nearly tripled as SpaceX invested in compute infrastructure. Elon Musk said on an investor call that SpaceX is in an inflection moment across launch, connectivity and superintelligence.
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SpaceX shares surge as AI revenue rises ninefold to $7.6 billion
SpaceX shares surged in after-hours trading after the company disclosed that its artificial intelligence revenue rose more than ninefold to US$7.6 billion, equivalent to A$10.8 billion. The strong result helped lift sentiment in US markets, where the Dow Jones Industrial Average gained 1 per cent. The Australian sharemarket is expected to open higher on the back of the positive finish on Wall Street. Business reporters are tracking the day's financial developments on the ABC News live markets blog.