AITomasz Tunguz1 day ago
Spending Like a Hyperscaler
6 min read
SpaceXAI reported $18.37B capex in its first public quarter, $15.83B on AI infrastructure, against a $13.2B consensus. Operating cash flow covers only 12% of capex, versus 155% at Microsoft and 106% at Meta. SPCX closed at $108, below its $135 IPO price.
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