SpaceX shares jump 7% on strong AI-driven earnings beat

SpaceX shares rose 7% to $159.13 after the company reported better-than-expected third-quarter results and issued an optimistic revenue forecast, boosting sentiment across AI-related chipmakers and data center infrastructure suppliers. Revenue surged 161% year-over-year to $14.58 billion, beating Wall Street estimates of $12.9 billion, with net profit of $4.4 billion. The Super Intelligence division generated $7.6 billion in revenue, up 830%, marking the first time it exceeded half of quarterly sales. CEO Elon Musk warned of a prolonged AI compute shortage, with plans to expand capacity from 1.7 gigawatts to 13-20 gigawatts by 2027. Analysts raised price targets but cautioned about financing, power availability, and execution risks.