SpaceX Reports Massive Revenue Surge Driven by AI Segment

SpaceX reported total revenues of $14.6 billion for its third quarter of 2026, representing a 161 percent increase compared to the previous year, as The Verge first reported. The company attributed this growth to its Connectivity division and its "Super Intelligence" (SI) segment.

The SI business generated $7.6 billion in revenue, marking an 830 percent year-over-year increase. The Verge reports that this growth was primarily driven by the adoption of Grok among consumers and enterprise customers, the activation of new cloud services agreements, and the $60 billion acquisition of the AI coding tool Cursor.

While the SI group posted $431 million in income from operations, the Connectivity group—which includes Starlink—recorded $2.4 billion in income from operations. SpaceX reported that its Connectivity business generated $5.2 billion in revenue and currently serves 13.6 million consumer subscribers. During an earnings call livestreamed on X, Elon Musk suggested that the Starlink connectivity business has the potential to generate "several hundred billion dollars a year."

In contrast to the AI and connectivity gains, the Space division reported revenues of $1.8 billion, an increase of six percent year-over-year, but posted a $7 million loss in income from operations.

Other developments mentioned in the Q3 earnings report and related calls include the launch of a new V5 Starlink residential dish and the 13th launch of the Starship rocket. Elon Musk also noted that SpaceX and Tesla are discussing a potential merger and that the company intends to attempt catching the Starship and its booster next month. Additionally, The Verge notes that president Gwynne Shotwell previously detailed plans during a Q2 call to develop a terrestrial mobile network to compete with carriers including Verizon, AT&T, and T-Mobile.