SpaceX Just Shared Great News for Artificial Intelligence (AI) Investors. Here Are 2 Stocks That Could Benefit
Space Exploration Technologies (NASDAQ:SPCX) reported strong third-quarter results on Oct. 20. The company’s artificial intelligence (AI) segment — dubbed Super Intelligence (SI) — was particularly impressive. SpaceX’s total revenue grew 161% year over year to $14.6 billion, while SI revenue soared 830% year over year to $7.6 billion.
Even with a $608 million contribution from an acquisition that closed in August and boosted its SI unit, this business’s growth during the period was impressive. The fact that SpaceX is experiencing such strong demand for AI is arguably a bullish sign for the broader AI industry. And for investors still looking for stocks to capitalize on the AI market, here are two that look particularly attractive following SpaceX’s third-quarter update: Nvidia (NASDAQ:NVDA) and CoreWeave (NASDAQ:CRWV).
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