SpaceX's AI Business Is Exploding, but Is It Worth the Price?

Space Exploration Technologies (NASDAQ: SPCX) is no longer just a rocket company with an ambitious satellite internet business. Artificial intelligence is rapidly becoming its biggest source of revenue. In the third quarter, SpaceX generated $14.6 billion in revenue, up 161% from a year earlier. Its "super intelligence" (SI) segment, which includes AI infrastructure, cloud services, and applications, contributed $7.6 billion. That was more than Starlink's $5.3 billion. A year ago, the businesses in the SI segment generated just $813 million in quarterly revenue.

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