SpaceX Q3 revenue hits $14.6B as AI business brings in $7.5B
SpaceX reported $14.6 billion in revenue for the third quarter of 2026, driven by its renamed "Super Intelligence" AI business, which generated $7.5 billion — about 52% of total income. The segment includes the recently acquired Cursor coding tool, the Grok assistant, and a neocloud business with 1.7 GW of compute capacity.
The AI business posted $431 million in profit, which would have been higher without $1.2 billion in one-time stock-based compensation tied to the Cursor deal. Overall, SpaceX swung to a net income of $4.4 billion, reversing a $1 billion loss a year earlier, though the first nine months still show a net loss of $413 million.
Capital expenditures reached $19.6 billion, largely for the second data center project, Colossus II, and increased Starship investment. CFO Bret Johnsen guided for $35 billion to $40 billion in new capital investments in the fourth quarter. CEO Elon Musk said he is spending four days a week in Memphis, Tennessee, working on Colossus II, and argued that power, cooling, and infrastructure — not chips — are the main constraints on superintelligence deployment.
Starlink subscribers grew to 13.6 million. Musk predicted that AI agents will drive more connectivity demand and forecast annual recurring revenue of $500 billion to $1 trillion by the end of 2027.
