SpaceX revenue jumps 161% as AI business and Starlink expand

SpaceX reported quarterly revenue of $14.6 billion, up 161% year on year, as its artificial intelligence business and Starlink connectivity operation expanded. The company also recorded net income of $4.4 billion, compared with a $1.1 billion loss in the same quarter last year. [1]

The results cover the three months to 30 September. SpaceX’s Super Intelligence segment — the name it now uses for the business previously reported as artificial intelligence — generated $7.56 billion in revenue, against $813 million a year earlier. The company says growth was driven mainly by new cloud-services agreements, its acquisition of AI start-up Cursor and increased use of Grok. [1]

SpaceX completed the Cursor acquisition on 14 August and said it contributed $608 million in revenue between the deal’s closing and the end of September. [1]

Starlink had 13.6 million consumer subscribers at quarter-end, up from 7.2 million a year earlier. Connectivity revenue, which includes consumer, enterprise and government services, rose to $5.25 billion from $3.10 billion. [1]

The AI-related growth came alongside substantial investment: SpaceX reported $16.44 billion in capital expenditure for the Super Intelligence segment during the quarter, compared with $4.76 billion a year earlier. Its overall quarterly capital expenditure was $19.59 billion. [1]