SpaceX has reported a massive increase in revenue for the third quarter of 2026, generating US$14.6 billion (C$20.6 billion) as its rapidly expanding artificial intelligence business overtook Starlink to become the company’s largest revenue source.
Revenue jumped 161% from $5.6 billion (C$7.9 billion) a year earlier, while SpaceX swung from a $1.1 billion (C$1.6 billion) net loss to a $4.4 billion (C$6.2 billion) profit. Adjusted EBITDA also climbed 306% to $8.8 billion (C$12.4 billion).
The results highlight how much SpaceX has changed beyond its traditional rocket launch and satellite internet businesses. While Starlink continues to expand globally, the company’s Super Intelligence (SI) division, which includes Grok and AI infrastructure, is now driving much of its growth.
SpaceX’s acquisition of Cursor in August, valued at $60 billion (C$84.6 billion), has also helped accelerate that transition.
The SI division generated $7.6 billion (C$10.7 billion) in quarterly revenue, up 830% year-over-year. That included $7 billion (C$9.9 billion) from AI solutions and infrastructure, supported by new cloud agreements, the Cursor acquisition, and growing adoption of Grok.
SpaceX also expanded its computing capacity to 1.7 gigawatts, nearly triple the 0.6 GW reported a year earlier.
Meanwhile, Starlink’s Connectivity division brought in $5.2 billion (C$7.3 billion), a 69% increase. Starlink ended September with 13.6 million consumer subscribers, adding 1.6 million during the quarter.
The company’s Space division generated $1.8 billion (C$2.5 billion) in revenue, supported by 35 launches. That included Starship’s first revenue-generating orbital mission, which deployed 26 next-generation Starlink V3 satellites.
Despite the strong financial results, SpaceX continues spending heavily on expansion, with capital expenditures reaching $19.6 billion (C$27.6 billion) during the quarter, including $16.4 billion (C$23.1 billion) for AI infrastructure alone.
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