SpaceX Exceeds Expectations in First Post-IPO Report
Strategic partnership with Nvidia and AI investments draw attention.
1Financial Performance Exceeds Expectations
SpaceX released its first quarterly report after going public. In Q2 2026, the company's revenue reached $7.8 billion, surpassing Bloomberg estimates ($6.81 billion). This compares to $4.7 billion in the previous quarter. EBITDA came in at $3.5 billion, well above expectations ($2 billion). However, shares declined due to high capital expenditures.
2AI Investments Raise Concerns
SpaceX's AI segment reported an operational loss of $1.26 billion (estimate: $2.39 billion). But capital expenditures in this area doubled from the previous quarter to $15.8 billion. Total capex reached $18.37 billion. Investors worry these massive investments may take longer than expected to pay off.
3Positive Signals from Starlink
Starlink service surpassed 12 million subscribers, with segment EBITDA reaching $2.6 billion. Elon Musk stated Starlink could eventually provide most of the world's internet. The service continues to show strong growth momentum despite market concerns about other segments.
4Next Phase in Starship Testing
SpaceX plans to attempt catching Starship's upper stage with the Mechazilla system in the next flight, pending no critical issues from previous mission analysis. Last month's failed Starship launch caused over $1 trillion in market capitalization loss from post-IPO peaks.
5Lock-up Period Approaches
On August 6, approximately 20% of insider shares (hundreds of millions) will become available for trading, potentially creating additional pressure on stock prices. Most Wall Street analysts maintain positive outlooks on the company despite recent volatility.
6Strategic Partnership with Nvidia
SpaceX announced a strategic partnership with Nvidia for the Starmind AI-1 project, which will use Rubin GPUs and Vera processors. Each satellite will have peak performance of 250 kW. Elon Musk revealed Nvidia will be SpaceX's exclusive AI chip supplier moving forward.
7Computing Capacity Targets
SpaceX aims to exceed 2 GW of computing capacity by end of 2026, with plans to expand to nearly 10 GW by end of 2027. Starmind satellite launches will begin next year, forming the foundation for future space-based AI infrastructure.
8Major Tech Deals
SpaceX signed AI infrastructure deals worth over $30 billion with Google and nearly $45 billion with Anthropic. These agreements represent key components of SpaceX's growth strategy in AI. The company aims to establish leadership in space-based AI infrastructure through these partnerships and its Starmind project.
Original article: INCRYPTED — SpaceX'in Borsa Sonrası İlk Raporu Beklentileri Aştı