SpaceX AI segment drives $14.6 billion in third-quarter revenue
SpaceX reported that its AI business now accounts for 52% of total income, driven by Cursor and GrokBot. The company plans to spend up to $40 billion on new capital investments in the fourth quarter.
SpaceX reported $14.6 billion in third-quarter revenue, with its AI business now accounting for 52% of total income. The renamed Superintelligence business line generated $7.5 billion in revenue, driven by the recently acquired Cursor coding tool, GrokBot, and a NeoCloud business boasting 1.7 gigawatts of compute. The AI segment generated $431 million in profit, a figure that would have been higher without $1.2 billion in one-time stock-based compensation expenses related to the Cursor acquisition. Total capital expenditures reached $19.6 billion as the company builds the Colossus 2 data center and invests in Starship for orbital data centers and Starlink satellites. CFO Brett Johnson stated the company will spend $35 billion to $40 billion on new capital investments in the fourth quarter. CEO Elon Musk reported spending four days a week in Memphis, Tennessee, to bring Colossus 2 online. Starlink subscribers reached 13.6 million consumers. Revenue was also boosted by approximately $1 billion from Bitcoin price recovery and unspecified related party income.