SpaceX is barely Space and mostly X

SpaceX’s first quarterly earnings statement as a public company says most revenue now comes from telecom and rented compute, while the space business contributed just over 10% of revenue and did not reach $1 billion for the quarter. That makes the company look less like a rocket maker and more like a broadband-and-cloud business that is still its own biggest customer because demand from outside buyers for its rockets remains limited.

Privatize the profit, socialize the losses? | Image: Cath Virginia / The Verge, Getty Images Once, I had some questions about why SpaceX, Elon Musk's healthiest company, acquired xAI , his sickliest one. Now I have some questions about why we're calling the whole thing SpaceX. Look, what we have here, by revenue, is primarily a telecom company and a company that rents compute, according to SpaceX's first quarterly earnings statement as a public company . The space sector of the business didn't break a billion dollars this quarter and contributed only a touch over 10 percent of the company's revenue. SpaceX remains its own biggest customer. There just aren't enough other people who want its rockets. And, I dunno, maybe if the rockets … Read the full story at The Verge.