SpaceX Q3 earnings beat expectations, AI infrastructure spending surges to $16.4 billion

SpaceX reported Q3 revenue of $14.58 billion and net profit of $4.4 billion, with its AI division generating $7.56 billion. AI infrastructure consumed $16.4 billion of the company's $19.6 billion in quarterly capital expenditure, signaling massive spending on computing hardware. CFO Bret Johnsen indicated total spending could reach $35 billion to $40 billion in Q4, roughly double Wall Street expectations. This spending surge benefits AI hardware suppliers Nvidia, Micron, and Seagate, which saw gains in extended trading following the earnings release.