SpaceX turns profitable in Q3, AI revenue surpasses half for the first time SpaceX's Q3 earnings report has clearly exceeded market expectations. Quarterly revenue reached $14.6 billion, up 161% year-over-year, beating the market forecast of $12.9 billion. Net profit was $4.4 billion, compared to a loss of $541 million in the previous quarter. This marks SpaceX's first profitable quarter since going public. AI business revenue in Q3 hit $7.56 billion, up 830% year-over-year, now accounting for more than half of the company's total revenue. In the previous quarter, this segment only brought in $2.561 billion, meaning it nearly tripled in just one quarter. Based on disclosed figures, roughly 70% of the revenue increase compared to the previous quarter came from AI. A major driver of this growth is renting out computing power. SpaceX builds data centers, equips them with chips, and provides computing capacity to companies that need to train and run AI models. These clients pay to use these resources. The growing demand for computing power is now translating into revenue on SpaceX's financial statements. From this earnings report, it's clear that AI has become the main driver of SpaceX's revenue growth, helping the company turn profitable overall. PS: Wait, isn't SpaceX's main business supposed to be rocket launches and recoveries? Shoutout to @Gate, trade more markets!