SpaceX’s latest earnings have given Wall Street a reason to revisit AI hardware stocks. Elon Musk’s company is preparing to spend billions more on computing infrastructure, and three US-listed stocks could benefit.

On Tuesday, SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and a $4.4 billion net profit.

Its AI division generated $7.56 billion, surpassing its $5.25 billion connectivity business, which includes Starlink.

The bigger surprise was spending. AI infrastructure consumed $16.4 billion of SpaceX’s $19.6 billion in quarterly capital expenditure. CFO Bret Johnsen said total spending could reach $35 billion to $40 billion in Q4, roughly twice Wall Street’s expectations.

SpaceX shares rose around…