The figure comes from the company’s first earnings report since the record-setting initial public offering hit the market in mid-June. As of last week, the company’s stock was so far down from its IPO highs that the value it shed was roughly equal to Musk’s other company, Tesla’s, market capitalization. Those compute plans are ambitious, but Musk struck a defiant tone against any doubters in the earnings call on Tuesday. The two companies are also partnering to build Starmind AI satellites, a part of SpaceX’s even more ambitious plan to put a giant colony of up to a million AI data centers in Earth’s orbit. On the call, Musk said that SpaceX would begin launching the Starmind AI satellites in 2027.