SpaceX revenue jumps 161% to $14.6 billion as AI cloud business beats forecasts

SpaceX brought in $14.6 billion in revenue during the third quarter of 2026, beating market estimates as its push into artificial intelligence computing and data centres paid off.

The figure represents a 161% rise compared with the same period last year and comfortably cleared the $12.72 billion consensus estimate compiled by financial data firm LSEG. The surge helped SpaceX swing to a quarterly net profit of $4.4 billion, a sharp turnaround from the $1 billion net loss recorded in the third quarter of 2025.

While Elon Musk founded SpaceX to build rockets, software and compute infrastructure now drive the bulk of its top line. The company's "Super Intelligence" division, which bundles its neocloud data centre leasing operations, the Grok AI model, and the recently acquired Cursor coding tool, accounted for 52% of overall income.

SpaceX's AI division operates primarily as a specialized cloud computing provider, selling high-performance data-centre capacity to third-party developers, including Google, Anthropic, and Reflection AI. The company reported that its compute infrastructure now commands 1.7 gigawatts of capacity.

Key third-quarter figures

Earnings were also aided by roughly $1 billion in gains tied to a recovery in bitcoin prices alongside income from an unspecified related-party investment.

The revenue growth arrived alongside aggressive capital expenditure. SpaceX poured $19.6 billion into capital investments during the quarter, directed at construction of its Colossus II data centre project and continued flight testing for its Starship launch system. Despite the strong quarter, cumulative costs from earlier in the year mean SpaceX still recorded a net loss of $413 million across the first nine months of 2026.

Starlink expansion and orbital plans

The company's Starlink satellite internet network continues to supply steady recurring subscriptions across maritime, aviation, consumer, and defence contracts. SpaceX noted in its filings that expanding into emerging markets may lower its average revenue per user over time as it introduces lower-cost regional tariffs, though customer volumes continue to rise.

SpaceX ultimately plans to link its AI ambitions with its launch business. The Starship heavy-lift vehicle is designed to deploy high-bandwidth Starlink satellites and launch experimental orbital data centres. Starship deployed several test satellites during an orbital flight last month, though that test ended early because of an engine malfunction.

Looking ahead, chief executive Elon Musk projected that annual recurring revenue from the company's Super Intelligence business could reach between $500 billion and $1 trillion by the end of 2027.