SpaceX Debuts on Wall Street as AI Push and Starlink Lead Revenue

SpaceX is reporting its first earnings as a public company, with consensus revenue near $6.93 billion and an estimated 26-cent loss per share; the stock has dropped about 24% since its IPO amid heavy AI-related investment and capex, even as Starlink remains the company’s most profitable unit and a major revenue source. Segments show Space around $835 million, Connectivity about $3.83 billion, and AI about $2.18 billion; anticipated Q2 capex runs higher, around $13.2 billion. Investors will watch Starlink subscriber growth (over 12 million) and ARPU, as SpaceX advances its xAI integration, Cursor AI deal, and space-based data-center ambitions, while some analysts remain skeptical on near-term profitability.