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SpaceX Q3 revenue jumps 161% as AI segment tops half of sales

SpaceX’s Q3 revenue rose 161% to $14.6 billion, led by its Super Intelligence AI unit, which generated $7.6 billion and 52% of sales.

AI News Feed · 2026-10-21 06:52

The Super Intelligence segment posted $7.6 billion in revenue, an 830% year-over-year increase, SpaceX said, according to The Verge. The company attributed the gain primarily to new cloud services agreements, its acquisition of AI coding tool Cursor and wider adoption of Grok among enterprise customers and consumers. TechCrunch reported that the unit includes Cursor, Grok and a neocloud business with 1.7 GW of compute, and that AI made up 52% of revenue.

Connectivity, which includes Starlink, reported $5.2 billion in revenue and 13.6 million consumer subscribers. Its operating income was $2.4 billion, according to The Verge. The space division had $1.8 billion in revenue, up 6% year over year, but recorded a $7 million loss in income from operations. The Super Intelligence unit posted $431 million in operating income.

TechCrunch reported that SpaceX’s data centers and Grok agents were more profitable than investors expected. The report described that performance as occurring in the second quarter while also discussing third-quarter revenue, and it did not reconcile the timing. TechCrunch said revenue was also boosted by about $1 billion related to a recovery in bitcoin prices and an unspecified related-party income that might be attributed to a SpaceX investment in another company. Capital expenditures totaled $19.6 billion as SpaceX builds a second data center project, Colossus II, and invests in Starship.

The quarter included the closing of SpaceX’s $60 billion deal to acquire Cursor, the 13th launch of Starship and the launch of a new V5 Starlink residential dish, The Verge reported. On the prior quarter’s earnings call, President Gwynne Shotwell described plans to build a terrestrial mobile network to compete with T-Mobile, AT&T and Verizon. In the second-quarter report, SpaceX said its connectivity business did not have a loss from operations, while its AI and space businesses did. Tesla, where Elon Musk is also CEO, reports earnings on Wednesday.

Editor's Summary

SpaceX’s third-quarter revenue rose 161% to $14.6 billion, with the Super Intelligence AI unit generating $7.6 billion and accounting for 52% of sales. The results, the company’s second since going public, came alongside $19.6 billion in capital spending and a small operating loss in the space division.