SpaceX Revenue Surges 161% to $14.6B, AI Unit Overtakes Starlink

SpaceX reported a 161% revenue surge to $14.6 billion in Q3 2026, swinging to a net profit of $4.4 billion from a $1.1 billion loss a year earlier. The results, the company's second since its IPO, beat Wall Street expectations of $12.72 billion in revenue and $1.57 billion in profit Source: The Next Web.

AI Drives Growth

SpaceX's renamed "Super Intelligence" (SI) unit generated $7.56 billion in revenue, more than nine times the prior year, overtaking Starlink as the largest segment Source: The Next Web. The SI business posted $431 million in operating profit, driven by cloud services, the Cursor acquisition, and Grok adoption Source: The Verge. However, TechCrunch notes that profit would have been higher without $1.2 billion in one-time stock-based compensation from the Cursor deal Source: TechCrunch.

Connectivity and Space

Connectivity (mainly Starlink) grew 69% to $5.25 billion, with 13.6 million consumer subscribers, up from 7.2 million a year ago Source: The Next Web. Average monthly revenue per subscriber fell to $69 from $99 as Starlink added cheaper plans Source: The Next Web. The space business grew modestly to $1.77 billion Source: The Next Web.

Merger Speculation and Spending

Elon Musk disclosed that SpaceX and Tesla have formed special committees to explore a potential merger, calling it "the largest of all time" Source: LA Times. Capital expenditures hit $19.6 billion, mostly on AI data centers, with CFO Bret Johnsen forecasting $35–$40 billion in Q4 Source: TechCrunch.