According to SpaceX quarterly earnings materials cited by The Verge, the company’s AI revenue more than tripled year over year to $2.6 billion, largely from contracts to supply compute to other AI companies. SpaceX’s filing documents described AI as the source of most of its prospective public-market value, although the division lost $1.5 billion during the quarter. Deals with Anthropic in May and Google in June place SpaceX in competition with neocloud providers such as CoreWeave, while expanding AI operations are also increasing capital spending.
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