SpaceX's AI Spending and xAI Financial Results
Elon Musk's xAI unit accounted for 84 percent of SpaceX's third-quarter spending, while nearly tripling its sales in the last three months to achieve an operating profit.
Elon Musk's AI unit xAI accounted for 84 percent of SpaceX's $20 billion spending in the third quarter, with capital expenditures expected to reach $40 billion this quarter.
Elon Musk's xAI unit has continued to use the company's resources since joining SpaceX in February. While the AI unit consumed 84 percent of SpaceX's $20 billion spending in the third quarter, capital expenditures are expected to rise to as much as $40 billion this quarter. This situation has caused concern among some investors.
Financial data released on Tuesday gave investors a sigh of relief. xAI's sales nearly tripled in the last three months, and it reported an operating profit of $431 million, contrary to analysts' loss estimates. Following this development, SpaceX shares gained more than 10 percent in value.
Sources
- bloomberg.com · Link