SpaceX Revenue Soars, Bitcoin Holdings Flat Amid $100B Share Unlock
SpaceX's second-quarter earnings report showed revenue soaring by 92% year-over-year to $7.814 billion, surpassing Wall Street's expectations of around $6.8 billion.
The company's adjusted EBITDA climbed 191% to $3.538 billion, far exceeding the estimated $2 billion consensus. Net loss narrowed to $541 million from $1.008 billion a year earlier, while operating loss improved to $143 million from $970 million.
SpaceX directed most of its post-IPO liquidity into money-market funds and government securities, resulting in nearly $100 billion in cash, cash equivalents, and marketable securities. However, the company's reported Bitcoin position remained unchanged at 18,712 BTC with a cost basis of $661 million.
The company's AI infrastructure investment reached $15.828 billion during the second quarter, exceeding expectations by more than double. This accounted for 86% of SpaceX's total quarterly capital expenditure and supported efforts to build large-scale data centers, lease high-demand computing capacity, and develop its own AI models and coding products.