More airlines want to add SpaceX's satellite internet, Starlink, to their fleets as passengers demand fast and reliable wifi. The carriers are competing to offer high-speed wifi on board.
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SpaceX listed in June at a valuation above $2 trillion, raising $85 billion after exercising an overallotment option in what the article describes as the world's biggest IPO; its stock has since fluctuated and was heading for an 8% decline on the day. In the latest quarter, SI (its AI unit) revenue jumped 829% to $7.5 billion, ahead of Starlink's 69% rise to $5.2 billion, though Starlink still led operating income at $2.3 billion versus $431 million for SI. SI moved from an operating loss of more than $1 billion a year earlier to operating income, while its capital spending in the quarter topped $16 billion. Elon Musk predicted annual recurring revenue of $500 billion to $1 trillion by the end of next year. The author suggests aggressive investors may consider buying a few shares on the dip, while most investors may wish to watch more earnings reports on capex and revenue growth first.
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