Lead Story
SpaceX made more revenue as an AI company than a space company
SpaceX's AI revenue surged more than three times year-over-year to $2.6 billion, largely driven by deals the company struck to provide compute infrastructure to other AI firms. The disclosure, tucked inside quarterly earnings documents ahead of a planned public offering, reframes SpaceX less as a launch vehicle operator and more as a neocloud provider competing in the same arena as CoreWeave and Lambda Labs.
The milestone is significant not just for what it says about SpaceX, but for what it signals about where margin and growth are sitting across the broader tech economy right now. When a rocket company's most profitable division is selling GPU cycles, the AI infrastructure buildout is clearly still far from its ceiling.
Semiconductors
AMD's data center business is booming while gaming takes a backseat
AMD reported data center revenue of $6.7 billion in its latest quarter, more than doubling the $3.2 billion it posted for the same period a year ago and climbing from $5.8 billion in Q1 — a run rate that puts the company firmly in the conversation as a credible alternative to Nvidia for AI accelerator workloads. Gaming revenue, by contrast, continued its retreat, underlining how thoroughly the chip industry's center of gravity has shifted toward AI infrastructure and away from the consumer segment that defined AMD's recovery a decade ago.
Industry
OpenAI drags Apple's lawsuit into the court of public opinion
Apple's trade-secrets lawsuit against OpenAI took a sharp turn when the ChatGPT maker published a detailed blog post — titled "Apple is getting this wrong" — publicly disputing Apple's account of events and releasing what it described as receipts to counter the allegations. The move is unusual in active litigation and signals that OpenAI is willing to fight this battle on two fronts simultaneously: in the courtroom and in the press, where shaping the narrative around AI ownership and developer relationships may matter just as much as the eventual legal outcome.
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