Meta's $64.6 Billion Quarter Hides the Real Story: The AI Race Just Started Costing More Than It Earns
Meta just posted a 26% revenue surge to $64.6 billion, yet the number that matters most went the other way. Free cash flow turned negative as AI spending outran the ad business for the first time this cycle. The Q4 math suggests the bill is about to get even bigger. So how long will investors keep paying?
SpaceX Now Makes More Money From AI Than From Rockets and Starlink Combined
SpaceX’s AI business just outearned its rockets and Starlink combined, bringing in $7.6 billion of a $14.6 billion quarter. But the AI buildout is costing almost $20 billion a quarter, and Elon Musk has now put a Tesla-SpaceX merger on the table. Here’s what the numbers really say, three scenarios for what comes next, and why Tesla’s earnings tonight could be the next big signal.