SpaceX is heavily reliant on Starlink for growth and profit as it marches toward Nasdaq listing
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- SpaceX reported Starlink generated $11.39 billion in revenue last year, 61 % of total sales, rising to 69 % in Q1.
- Starlink was SpaceX’s only profitable division in 2023, earning $4.42 billion, while the rocket unit lost $657 million and the AI unit posted a $6.35 billion deficit.
- Starlink’s subscriber base more than doubled to 10.3 million in Q1, underscoring rapid adoption.
- SpaceX filed with the FCC to launch up to 1 million low‑Earth‑orbit satellites, expanding the constellation.
- SpaceX’s Q1 capital expenditures totalled $10.1 billion, with $7.7 billion earmarked for AI development.
Why it matters: SpaceX investors gain a robust cash flow from Starlink as the company prepares for a Nasdaq IPO, while its rocket and AI units remain loss‑making, shifting the firm’s valuation focus to satellite internet.
