Elon Musk Just Gave Fantastic News for Nvidia Investors
Space Exploration Technologies (NASDAQ: SPCX) just reported fabulous earnings, with a 161% increase in revenue and a $4.4 billion net income, its first quarterly profit.
Elon Musk shared exciting news about where the company’s headed, including perfecting reusable spaceships and increasing satellite bandwidth by 100x. But he also gave fabulous news for Nvidia (NASDAQ: NVDA) investors.
The standout in the report was the artificial intelligence (AI) business, now called SI, or Super Intelligence. Sales rose an astonishing 835% year over year, driven by compute deals, the acquisition of coding company Cursor, and enterprise adoption of the Grok AI model. It also became profitable, with $431 million in operating income.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.