SpaceX Posts $431 Million AI Operating Profit As Total Revenue Jumps 161%
Topline SpaceX logged a nine-figure operating profit for its artificial intelligence segment in the company’s third-quarter results posted Tuesday, with Starlink also growing as an AI acquisition added to revenue. This story was first published on Forbes.com Key Facts SpaceX reported revenue of $14.6 billion, up 161% year-over-year, with net income of $4.4 billion—up $5.5 …
Topline
SpaceX logged a nine-figure operating profit for its artificial intelligence segment in the company’s third-quarter results posted Tuesday, with Starlink also growing as an AI acquisition added to revenue.
Key Facts
SpaceX reported revenue of $14.6 billion, up 161% year-over-year, with net income of $4.4 billion—up $5.5 billion from a $1.1 billion net loss in the same quarter last year.
Revenue from artificial intelligence, which SpaceX refers to as “super intelligence,” reached $7.6 billion, marking an 830% spike year-over-year as the segment posted a $431 million operating profit.
SpaceX gained $1.2 billion in share-based compensation from its $60 billion acquisition of Cursor, an AI coding platform.
The number of Starlink subscribers increased 1.6 million to 13.6 million in the third quarter, with connectivity revenue rising 69% year-over-year to $5.2 billion.
SpaceX’s capital spending totaled $19.6 billion for the quarter.
Tangent
SpaceX shares closed down a fraction of a percent at $147.79 on Tuesday. Following the earnings report, the company’s stock jumped over 4% in after-hours trading.
Big Number
1.4%. That is how much SpaceX stock is down since the company went public in June with an opening price of $150 per share.
Forbes Valuation
We estimate Elon Musk’s net worth at $925 billion, making him the wealthiest person in the world.
Key Background
SpaceX acquired xAI in February in a merger valued at $1.2 trillion, bringing two of Musk’s companies under the same roof and allowing the merged company to work toward his promises of orbital data centers to power AI with solar arrays instead of Earth’s power grids. Musk has said initial satellite launches for the data centers will begin next year. SpaceX reported $16.4 billion in AI capital spending during its third quarter, representing the largest share of the company’s total capital expenditure.
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