WASHINGTON, D.C. — SpaceX reported a quarterly profit for the first time since going public, with revenue more than doubling to $2.3 billion, driven by growth in its Starlink satellite internet service and a new line of artificial‑intelligence products.

The company said AI‑related spending surged to $520 million this quarter, up from $150 million a year earlier, as it rolled out custom chips and cloud‑based inference services for enterprise clients. Starlink subscriptions rose 28 percent, adding $1.2 billion in revenue, while AI contracts with defense and technology firms contributed an additional $300 million.

Investors reacted positively, with SpaceX‑related equities gaining 7 percent in after‑hours trading. The rally came as the Federal Reserve held its benchmark rate at 5.25 percent, a level that has pressured growth stocks but left room for firms showing tangible cash flow improvements.

Market Reaction

Analysts highlighted the profit as a turning point. “The earnings beat reflects the rapid scaling of Starlink and AI services, which are now offsetting the heavy capital outlays of launch operations,” said Jane Doe, senior analyst at Morgan Stanley. She added that the company’s cash‑flow outlook looks “significantly more comfortable” heading into 2027.

SpaceX president Gwynne Shotwell emphasized sustainability, stating, “Our focus remains on delivering reliable broadband and expanding our AI portfolio while maintaining disciplined spending.” The comment underscored the firm’s intent to balance aggressive R&D with profitability, a shift that may attract more institutional capital.

Key Takeaways

• Revenue rose 105 percent to $2.3 billion, driven by Starlink and AI services.
• AI spending increased to $520 million, reflecting a strategic pivot toward high‑margin products.
• Shares climbed 7 percent after the report, despite a high‑interest‑rate environment.

Overall, SpaceX’s first quarterly profit signals that its diversification beyond launch services is beginning to bear fruit, offering investors a clearer path to sustained earnings growth amid broader market volatility.