SpaceX is heavily reliant on Starlink for growth and profit as it marches toward Nasdaq listing
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- Elon Musk's Space X is best known for its reusable rockets, and has been capturing headlines this year for its high-priced move into artificial intelligence through its merger with x AI.
- In its long-awaited prospectus on Wednesday, SpaceX said its connectivity unit, which is primarily comprised of Starlink, generated $11.39 billion in revenue last year, accounting for 61% of total sales.
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Elon Musk's Space X is best known for its reusable rockets, and has been capturing headlines this year for its high-priced move into artificial intelligence through its merger with x AI. But as the company pitches investors ahead of its mammoth IPO, there's another part of its business that dwarfs the rest in terms of growth and profits: Starlink.
In its long-awaited prospectus on Wednesday, SpaceX said its connectivity unit, which is primarily comprised of Starlink, generated $11.39 billion in revenue last year, accounting for 61% of total sales. That number went up to 69% in the first quarter of this year.