SpaceX grew revenue 92%, but “space” is becoming its smallest business. @legendaryy comments the Q2 earnings: “The headline number is actually a good one. Revenue is up 92% year over year. They had second-quarter revenue of $7.8 billion. The net loss is down by half, from $1.01 billion to $540 million. Connectivity and Starlink is the biggest division for Q2 revenue at 55%. Then you have AI, xAI and Grok. That’s another $2.56 billion, another 33%. Space and launch is $960 million. At its heart, it is starting to look more like a traditional AI infrastructure company, building data centers, but profiting more from the Starlink side, whereas space exploration, the main part of the name $SPCX , is obviously the weakest division.”