SpaceX Earnings Show Telecom and AI Compute Dominate, Space Revenue Hits Just 10%

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SpaceX released its first quarterly earnings statement as a public company, revealing that the space segment contributed just over 10% of total revenue. The company's income is now primarily driven by its telecom operations and compute-rental services. Space launch revenue failed to cross the billion-dollar mark this quarter, partly because SpaceX remains its own largest rocket customer. The report raises questions about the company's identity following its acquisition of Elon Musk's AI venture, xAI. Critics note the business now resembles a telecom and cloud firm more than a space company.

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