SpaceX reported a revenue of $7.8bn in its second quarter, a 92% increase year-over-year and surpassing analysts' expectations of $6.82bn. The company, led by Elon Musk, experienced a net loss of approximately $541mn, which was better than the estimated $2.12bn.

AI revenue more than tripled to $2.56bn, driven by deals leasing data centre capacity and computing power to rivals like Anthropic and Google. These agreements contributed $1.6bn but limited SpaceX's own AI model training capabilities. The company's initial public offering in June raised a record $86bn, capitalizing on the AI boom and the space economy.

Despite strong growth, SpaceX shares have seen volatility, dropping significantly from their post-IPO peak. Increased short interest and the end of the employee lock-up period are cited as factors impacting the stock price. Investors are also considering the potential for Musk to merge SpaceX with Tesla, with Musk noting increased collaboration between the two companies.