SpaceX just reported a blowout quarter. Here is what happened, in plain English.
Third-quarter revenue hit $14.6 billion. That is 161 percent higher than last year.
Its AI unit, Super Intelligence, made $7.6 billion. A year ago it made $813 million.
SpaceX stock surged on October 21 after the report beat every analyst forecast.
The S&P 500 rose 0.6 percent. The Dow added 360 points. The Nasdaq gained 1.1 percent.
Musk said SpaceX formed committees to explore a merger with Tesla. Tesla rose 3.4 percent.
The prior week was the worst for the Nasdaq since June. AI demand looked shaky. This report changed the mood.
SpaceX sells computing power to AI rivals like Anthropic and Google. Demand is still growing.
Intel, Micron, and Nvidia all rose as the AI trade came back to life.
On October 23 an analyst upgraded SpaceX from Sell straight to Buy. The target tripled to $250.
Musk says yearly recurring revenue could reach $500 billion to $1 trillion by end of 2027.
Get the full plain-English breakdown of the earnings that lifted the market on Rive News.
Get the full breakdown, key numbers, and what happens next.
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