SpaceX AI Segment Boosted by Cloud Computing Deals
Dow Jones
Aug 05
SpaceX's artificial intelligence segment swung to positive Adjusted earnings before interest, taxes, depreciation, and amortization of $1.1 billion in the second quarter after posting a loss of $276 million in the year-ago quarter. The turnaround came from $14.1 billion in contracted cloud computing sales, which generated $1.6 billion in incremental infrastructure revenue. AI segment revenue jumped 247% year over year to $2.6 billion. The company expanded its compute capacity to 1.4 gigawatts from 0.4 gigawatts in the year-ago quarter, while AI capital expenditures reached $15.8 billion, up from $749 million a year earlier.
This article was automatically created using artificial-intelligence technology and reviewed by Dow Jones Newswires editors.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.