SpaceX Q3 Earnings: AI Segment Revenue Hits $7.6 Billion, Up 830% Year-over-Year

SpaceX released its third-quarter earnings report on October 20, 2026, revealing total company revenues of $14.6 billion, a 161% increase year-over-year. The company attributed this growth primarily to its Super Intelligence (SI) segment and accelerated expansion in Connectivity.

The SI segment generated $7.6 billion in revenue, marking an 830% year-over-year surge. SpaceX stated this growth was "primarily driven" by the activation of new cloud services agreements, the acquisition of AI coding tool Cursor, and increased adoption of its Grok model among enterprise customers and consumers. The segment posted $431 million in income from operations.

In comparison, SpaceX's traditional Space business saw revenues of $1.8 billion, up 6% year-over-year, but recorded a $7 million loss in income from operations. The Connectivity business, encompassing Starlink, reported $5.2 billion in revenue with 13.6 million consumer subscribers and $2.4 billion in operating income.

This is the second earnings report since SpaceX's IPO in June. The data provides concrete financial evidence of how AI software and services—specifically through acquisitions like Cursor and model adoption like Grok—have become a dominant driver of revenue growth for the diversified aerospace and technology giant.