SpaceX Reports Massive Revenue Surge Driven by New 'Super Intelligence' Segment
AI-generated image · Bay Street Wire
Q3 2026 earnings reveal a pivot toward AI and cloud services as the company's core space division continues to post operational losses.
SpaceX reported Q3 2026 revenues of $14.6 billion, representing a 161 percent year-over-year increase, according to reporting from The Verge. The company attributed this growth to its Connectivity group and a newly highlighted "Super Intelligence" (SI) segment.
The SI business generated $7.6 billion in revenue, an 830 percent increase over the previous year. The Verge reports this growth was primarily driven by the acquisition of AI coding tool Cursor in a $60 billion deal, the activation of new cloud services agreements, and expanded adoption of Grok among consumers and enterprise clients. The SI group posted $431 million in income from operations.
While the AI-focused segment surged, the company's core Space division reported revenues of $1.8 billion—a 6 percent year-over-year increase—and a $7 million loss in income from operations. In contrast, the Connectivity business, which includes Starlink, reported $5.2 billion in revenue and 13.6 million consumer subscribers, posting $2.4 billion in income from operations.
During an earnings call livestreamed on X, CEO Elon Musk stated that SpaceX and Tesla are discussing a potential merger and suggested the Starlink connectivity business could eventually generate "several hundred billion dollars a year." Musk also noted that SpaceX intends to attempt catching the Starship and its booster next month. This marks the second earnings report since the company's June IPO.