SpaceX says its capex could double this quarter as AI spending grows
SpaceX's AI spending was lower than Wall Street expected but higher than the company spent the quarter before.
TL;DR
- SpaceX spent $16.4 billion on AI-related capital expenditures in Q3.
- Overall capital expenditures were $19.6 billion in Q3.
- SpaceX forecasts Q4 capex to reach $35-$40 billion.
- The company expects a payback period of less than a year for new compute deployments.
- AI revenue reached $7.6 billion in Q3, surpassing Starlink's $5.2 billion.
- SpaceXAI has rebranded as SpaceXSI, aligning with the term 'super intelligence'.
- SpaceX is leasing compute power to companies like Anthropic, Google, and Reflection AI.
- Elon Musk stated that power, cooling, and infrastructure are the main constraints for AI, not chips.
- SpaceX aims to use 50% of its compute internally and rent out the other 50%.