SpaceX's third-quarter revenue rises 161% as AI sales top connectivity

SpaceX's AI business, which it calls Super Intelligence, generated $7.56 billion in revenue, up from $813 million a year earlier, CNBC reports. Connectivity, which includes Starlink, brought in $5.25 billion, up from $3.1 billion a year earlier, according to CNBC. SpaceX attributed the AI growth primarily to new cloud services agreements, its acquisition of Cursor and increased Grok adoption among enterprise customers and consumers, The Verge reports.

The revenue lead did not extend to operating income. CNBC reports $2.37 billion in operating income for connectivity, compared with $431 million for AI and a $7 million operating loss for the space division. SpaceX also reported 13.6 million Starlink subscribers, up from 12 million in the previous period, according to CNBC.

Of SpaceX's $19.6 billion in third-quarter capital expenditures, more than $16.4 billion was committed to the AI business, CNBC reports. Total capital expenditures rose from $18.4 billion in the previous quarter, according to the Financial Times.