SpaceX AI Revenue Surges as Capital Spending Soars

SpaceX reported third-quarter 2026 revenue of $14.575 billion, up 161% year on year and above market expectations. Net profit reached $4.404 billion, compared with a loss a year earlier, while adjusted EBITDA was $8.809 billion. The Super Intelligence (SI) division became SpaceX’s largest business, generating $7.56 billion—about 52% of revenue—after growth supported by cloud contracts, Cursor and demand for Grok. Cursor contributed $608 million following its acquisition. But SI operating profit was $431 million, well below Connectivity’s $2.367 billion. Connectivity, including Starlink, reported $5.248 billion in revenue and 13.6 million consumer users; Space operations generated $1.77 billion. SpaceX’s AI infrastructure expansion is driving heavy investment. Third-quarter capital expenditure was $19.593 billion, including $16.444 billion for SI, and the company forecast fourth-quarter spending of $35 billion to $40 billion. It is targeting $100 billion in annual recurring revenue by year-end and forecast first-quarter 2027 revenue of $33 billion to $37 billion. Elon Musk has also said SpaceX could reach $1 trillion in annual revenue in 2028. The results underline SpaceX’s shift from launch and satellite communications towards AI infrastructure. Starlink subscription growth and a first revenue-generating Starship mission provide additional momentum, while Starship could help reduce satellite deployment costs. For traders, the key question is whether AI growth can deliver sustained profits to justify the scale of investment. The figures concern SpaceX and do not indicate a direct catalyst for any cryptocurrency.