Telecommunications & Media

SpaceX revenue mostly from Starlink, rockets and AI in the red

SpaceX’s main source of revenue is its Starlink satellite internet service rather than reusable rockets, according to results disclosed ahead of a planned IPO. Starlink-related connectivity services made up 61 percent of consolidated revenue last year and 69 percent in the first quarter. Starlink generated the largest revenue and profit, while the rocket launch business posted a loss and the AI segment recorded a larger deficit. Filings also highlighted rising regulatory, operational and geopolitical risks.

Industry

Solar seen overtaking coal and gas as biggest power source by 2035

Solar power is expected to become the world’s largest source of electricity within the next decade, overtaking coal, oil and natural gas, a forecast said. BloombergNEF projects solar will be a core energy source in the global power market by 2035 on economics alone as costs keep falling. It also expects AI-driven data centre demand to spur new generation, with 24-hour power needs likely to slow a solar-led shift and keep gas and coal playing a role.