Elon Musk’s SpaceX is rocketing beyond its cosmic origins, with its AI business now accounting for a stellar 52% of its income. In the third quarter, SpaceX reported a dazzling $14.6 billion in revenue, thanks to its innovative “Super Intelligence” division. This segment alone raked in $7.5 billion, powered by the Cursor coding tool, Grok bot, and a robust neocloud business boasting 1.7 GW of compute.
Despite a hefty $1.2 billion in stock-based compensation from acquiring Cursor, the AI sector still generated a solid $431 million in profit. Not to be outdone, the company also benefited from a $1 billion boost due to Bitcoin’s price recovery and some intriguing related-party income.
SpaceX’s ambitious plans include a colossal $19.6 billion in capital expenditures, with a focus on expanding the Colossus II data center and ramping up Starship investments. Musk, who’s been spending a lot of time in Memphis to oversee Colossus II, highlighted the importance of infrastructure over chips in deploying super intelligence. SpaceX is even crafting its own turbine components to sidestep industry delays.
On the space front, Starlink’s subscriber base has soared to 13.6 million, with Musk anticipating further demand thanks to AI agents. The company’s net income hit $4.4 billion, a dramatic turnaround from last year’s loss, although it still faces a year-to-date net loss of $413 million.
Musk is optimistic, projecting SpaceX’s annual revenue to skyrocket to between $500 billion and $1 trillion by 2027. CFO Bret Johnsen predicts first-quarter 2027 revenue to reach $33 billion to $37 billion. With such bold ambitions, SpaceX is truly aiming for the stars!
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