Tesla, Meta and AT&T Earnings Previews; SpaceX Reports Q3 Results

Space Exploration Technologies Corp. (NASDAQ: SPCX ) CEO Elon Musk on Tuesday teased potential breakthroughs in chip fabrication and said the company is aiming for volume production at its Terafab plant in 2028, its joint project with Tesla Inc. (NASDAQ: TSLA ). Eyes 2028 for Volume Chip Production Musk said on SpaceX’s third-quarter earnings call that the company aims to have a test chip working around May or June of next year at its research fab in Austin, Texas. He called volume production at Terafab in the third or fourth quarter of 2028 an “aspiration”, describing the dates as “very aggressive” and the timeframes as “insanely fast.’” He said SpaceX has “some significant potential breakthroughs in chip fabrication” but declined to elaborate. “Let’s not give away the shop here,” he added. Read Also: Prediction Market Bettors Weigh Odds of a US Default in 2026 as Commentator Warns ‘Global Debt Crisis Has Never Been Worse’ Terafab Aims to Make a Terawatt of Superintelligence Chips a Year Musk said Terafab will ultimately “make a terawatt of superintelligence chips per year,” and that he expects a shortage of superintelligence compute to “remain for a long time.” Intel Corp. has been tied to the project since April, when Musk said Tesla planned to use its 14A manufacturing process. Earlier this month, Musk said discussions with Taiwan Semiconductor Manufacturing Company Ltd. about potential cooperation were underway, but later said Terafab will build and run the fab itself. Special committees at SpaceX and Tesla are weighing a possible combination of the two companies, but have not agreed on terms. Beats Q3 Revenue and Earnings Estimates SpaceX reported third-quarter revenue of $14.58 billion, beating estimates of $12.94 billion, with earnings of 35 cents per share against expectations of 12 cents, according to Pro. Revenue rose 161%, led by superintelligence, which grew 830% to $7.6 billion. Connectivity revenue, including Starlink, rose 69% to $5.2 billion, and the space business grew 6% to $1.8 billion. Capital expenditures totaled $19.6 billion, and the company expects $35 billion to $40 billion in the fourth quarter. Price Action: Shares closed 0.11% lower at $147.79 on Tuesday, but rose 8.06% to $159.70 in extended trading on the news of the earnings. Edge rankings indicate SpaceX’s stock has a negative price trend in the short term, but a positive price trend through the medium and long term. See More: Top Momentum Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Photo: Frederic Legrand — COMEO On Shutterstock.com