SpaceX is stuck in a difficult adolescence
TSLA•SpaceX reported third-quarter revenue of $14.6 billion and net income of $4.4 billion, with its Super Intelligence unit generating $7.6 billion in revenue. The article says the chip-rental business could face falling prices as shortages ease.
1. AI unit surges
SpaceX said its Super Intelligence unit generated $7.6 billion in third-quarter revenue, up from $813 million a year earlier. The unit, which rents out chips for AI computing, became the company’s largest business line, overtaking its rocket-launch business.
2. Returns face risks
SpaceX said it could increase Super Intelligence capacity perhaps five-fold by the end of next year. The article says high rental prices reflect chip shortages that may ease: analysts at MoffettNathanson estimated Nvidia GB300 chips would rent for about $10 an hour over the next several months and $4 further in the future.
3. Revenue and investment
SpaceX reported total third-quarter revenue of $14.6 billion, compared with $5.6 billion a year earlier, and net income of $4.4 billion versus a $1.1 billion loss. Capital expenditures nearly tripled to $19.6 billion, including $16.4 billion invested in Super Intelligence. Revenue from the rocket business grew 6% year over year; SpaceX is also building a $17 billion semiconductor plant with Tesla.
