SpaceX’s AI business is beating expectations
SpaceX reported $14.6 billion in third-quarter revenue, returning to profitability on the strength of its artificial intelligence operations. According to a regulatory filing, AI now accounts for 52% of the company's total income, marking a shift away from its traditional roots.
SpaceX reported $14.6 billion in third-quarter revenue, returning to profitability on the strength of its artificial intelligence operations. According to a regulatory filing, AI now accounts for 52% of the company's total income, marking a shift away from its traditional roots.
The financial turnaround was driven by growth across all segments, particularly the newly renamed "Super Intelligence" line. This division includes the Grok bot, the Cursor coding tool, and a burgeoning neocloud business that boasts 1.7 gigawatts of compute. Additional income of about $1 billion came from bitcoin price recovery and unspecified related-party revenue.
Despite capital expenditures reaching $19.6 billion for projects like the Colossus II data center and the Starship rocket, the revenue boost pushed SpaceX to a $4.4 billion net income for the quarter. That figure marks a sharp recovery from a $1 billion loss during the same period last year.
CEO Elon Musk offered a bullish forecast for the division, predicting that annual recurring revenue will reach between $500 billion and $1 trillion by the end of 2027. Despite the strong third quarter, SpaceX still maintains a net income loss of $413 million for the first nine months of the year.
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Original publication: 21 October 2026 02:10