Elon Musk’s SpaceX SPCX$147.81·Market Closed reported third-quarter revenue of $14.58 billion (up 161% year-over-year), topping estimates for $12.87 billion.
Adjusted EBITDA of $8.81 billion was ahead of forecasts for $6.59 billion. Net income of $4.4 billion topped forecasts for $1.88 billion.
Capital expenditures for the quarter were $19.59 billion, about in line with estimates for $19.6 billion.
Cash and cash equivalents at quarter’s end were $51.29 billion, well shy of forecasts for $91.2 billion. Bitcoin on the balance sheet was valued at $1.57 billion.
Shares are flat in after-hours trading at $148, roughly a $2 trillion valuation.
AI giant Anthropic had revenue of about $16.3 billion in the first half of 2026, up from $1.1 billioin a year earlier, according to the WSJ, which viewed a draft of the company’s S-1 as it preps for an IPO.
Spending on compute capacity grew fast as well, hitting $9 billion in the first half, up from $2.3 billion in the same period in 2025. Further, Anthropic is contracted to spend around $450 billion on agreements currently in place over the next 7 to 10 years.
The company booked a net loss of more than $80 billion in the first half of this year, up from $13 billion a year earlier.
It turns out that data center power generation and buildouts are lagging well behind hardware in the AI race.
According to Business Insider, Amazon AMZN$262.57·Market Closed is buying GPUs so far in advance that it is storing billions of dollars’ worth of Nvidia hardware in warehouses because it’s got no place to plug them in.
The story said that Amazon expects to take delivery of $3 billion worth of GPUs per month for the foreseeable future.
A slight rise in crypto prices is combining with small gains in U.S. equities to lift crypto-related stocks early Tuesday afternoon.
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