surprising fact
Starlink accounted for 69% of SpaceX’s revenue through its first quarter, and the company’s connectivity arm—which includes Starlink Mobile—was its only profitable unit after its space unit lost $619 million and its AI arm shed $2.5 billion.
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tangent
Some analysts have projected that SpaceX will soon acquire Musk’s Tesla: Wedbush Securities analyst Dan Ives said his firm placed odds of 80% or higher for the two companies to merge by 2027, writing in a note the “groundwork [was] already in place for both operations to become one operation.” SpaceX president Gwynne Shotwell, who spoke to CNBC ahead of the firm’s trading debut earlier this month, said a deal combining SpaceX and Tesla “might make Elon’s life a little easier.” Shotwell said there’s “no question that there are synergies between Tesla and SpaceX in our futures,” but concluded she was “focused on keeping the lights on here.”
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key background
In its IPO filing, SpaceX projected the addressable market for Starlink Mobile, or the total amount of revenue it could make if it held all possible demand for the products or services it targets, at $740 billion, briefly noting it would seek to “expand our Starlink Mobile offering.” In January, in response to a user on X speculating whether a “Starlink phone” would be released, Musk said it was “not out of the question at some point” (Musk said SpaceX was not developing a phone as of February).
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further reading
ForbesSpaceX Shares Fall Below $150 Debut Price For First TimeBy Ty Roush