**SpaceX Reports Significant Cloud Services Contracts and AI Growth**
SpaceX announced $14.1 billion in cloud services contracts during the second quarter of 2023, nearly doubling its total revenue of $7.8 billion for the same period. The company’s AI segment saw a remarkable 247% year-over-year revenue increase, totaling $2.6 billion, driven by new compute agreements. The AI sector consumed $15.8 billion in capital expenditures this quarter, outpacing the entire company’s revenue.
The firm reported an operating loss of $1.3 billion in its AI segment, though it achieved $1.1 billion in adjusted EBITDA. Despite these losses, SpaceX’s portfolio remains robust, ending the quarter with $100 billion in cash and marketable securities. Notable clients for its AI computing capacity include Google and Anthropic, with significant contracts extending until mid-2029.
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