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chollida1 2 hours ago
- Elon's got SPCX today and TSLA tomorrow, can't remember that ever happening before:)
- the biggest driver of Elons net worth and wealth
- he could become a trillionaire if this goes well
- politicians pointing out the conflict of interest “SpaceX got almost $6 BILLION in taxpayer-funded defense contracts last fiscal year,” Van Hollen wrote. “Meanwhile, SpaceX CEO, Elon Musk, has spent over $360 MILLION in our elections this cycle. This should be illegal — but it isn’t. I’ll be introducing a bill to close the loophole that allows it.”
- SPCX refers to AI as AI and SI in different places so the SI term hasn't taken off yet:)
- will they address a TSLA SPCX merger
- earnings call livestreamed on X
- company is roughly flat since its IPO, this seems like it will be the new win for companies that go public with such large valuations, very hard to grow from a $2T market cap.
- if SPCX is worth $2T, it will be very hard for Anthropic and OpenAI to claim they are worth as much with worse prospects, especailly if the rumours of an $80B loss for Anthropic is correct
- Elon says they will have between $500B adn $1T of reocurring revenu by next year, press X to doubt, but its Elon so...
Starlink:
- radio frequency spectrum aquisition shoudl close 27Q2
- subscriber growth was less than expected, but offset by customers paying more
- now at 13.5M subscribers
- will they address the headlines that now claim Elon was personally responsible for the Ukraine Starlink shutdown(wall street journal reporting so likely correct)
- expect to have 100,000 starlink satalites in space by 2029
- looking to do a midspace refuel in H1 next year
- satellite network is contracted for 12,000 planes
Cursor & AI:
- contributed $608M in revenue, for the current AI market boom this is surprisingly low number, like really low, like cursor employees should be concerned about their jobs
- operating profit of $431M on the quarter, pretty darn good
- still up from $1.2B last quarter
- now larger than space in terms of revenue
- hve 1.7GW of compute now, but Elon says he's spending 4-5 days a week in Memphis working to bring on 3GW by the end of the year and 14GW by the end of next year
- named dropped Nvidia Vera Rubin as the main chip they'll be using
- Elon says he expects Grok Bot to be the biggest use of computer/AI from grok users
Finacials
- expected $92B in cash, but only have $51B huge discrenency here, *offset by $38B in securities, so still off but not too far off
- quarterly profit of $0.35/share
- 3Q Net Income $4.40B, Est. $1.88B
- 3Q Rev. $14.58B, Est. $12.87B
- 3Q Adj. Ebitda $8.81B, Est. $6.59B
- 3Q Capex $19.59B, Est. $19.6B
- Space capex is $1.6B, who would have thought that the space program is really cheap to run vs a software business:)
- $4.3B in NASA contracts
- Numbers are good but expectations were sky high so stock could easily fall at the open
- net income got a boost from $1B of other income and $400M of tax benefits, so operating income was $2.8B(vs $2.2B expected)
Starship:
- expenses (R&D and Launches) were up $367M YOY, shows launches are up as is development
- Elon saying they'll fly weekly starting Q2 next year!!!!!, though last earnings he said it woudl be daily by the same period so maybe bet on a launch a month to keep this on Elon time
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