SpaceX laid out $18.4 billion in capital investments during the April-to-June quarter, with most of the spending supporting artificial-intelligence efforts.
In its earnings report Tuesday, the company recorded $15.8 billion in capital expenditures for AI during the period, with its space division and Starlink-focused unit tallying up almost $1.2 billion and $1.4 billion in capex, respectively.
Last year, SpaceX spent $20.7 billion on capital investments, reflecting its expansive plans for a future where AI and space converge. A number of tech giants are also putting enormous sums into AI-related capex, with the spending, at times, unnerving investors.
SpaceX has said it expects to allocate large amounts of investment for AI computing resources, and that it will take multiple years before the spending turns into adjusted earnings. Morgan Stanley analysts in July forecast that SpaceX won't produce positive free cash flow before 2035 as it spends, and thus will need to raise significant amounts of outside capital.
