SpaceX just dropped its first quarterly report as a public company, smashing expectations with a 92% revenue jump to $7.8 billion—driven by Starlink’s doubled subscriptions and an AI business that surged 350%. Despite still reporting a loss, the cash flow from new ventures signals a shift away from relying solely on Starlink. The stock rallied during trading but dipped after amid looming pressure from a massive 900 million-share unlock. Elon Musk’s long-term vision is clear, and while AI costs remain high, the explosive growth proves their strategy is working—even if Wall Street’s high bar keeps things volatile.
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