SpaceX reported $14.58 billion in revenue for the third quarter of 2026. This figure surpassed analysts' expectations of $12.72 billion. The revenue marks a 161% increase from the same quarter last year. Growth in the Starlink and artificial intelligence (AI) segments drove this increase. The company also announced a net income of $4.4 billion and earnings per share of 35 cents. After the earnings announcement, SpaceX's stock rose 2% in after-hours trading.
Increased AI Investment
SpaceX revealed it spent $16.4 billion on AI-related capital expenditures during the quarter. This contributed to total capital expenditures of $19.6 billion. SpaceX CFO Bret Johnsen projected that capital expenditures could double in the current quarter. He expects them to reach between $35 billion and $40 billion as new computing resources come online. Johnsen stated, "At current pricing, new compute deployments are generating a payback of less than a year." This investment shows SpaceX's commitment to expanding its AI capabilities. These capabilities have now outpaced revenue from its Starlink business, which brought in $5.2 billion this quarter.
Geopolitical Tensions
Elon Musk's company has faced scrutiny over its role in global affairs. This is particularly true regarding the Starlink service used by Ukraine. Ukrainian President Volodymyr Zelenskyy accused SpaceX of restricting access to military-grade Starlink. He claimed this restriction hindered combat missions. Musk denied these claims, saying the U.S. government controls the StarShield service. The White House also denied any interference with Starlink services. Amid these tensions, Musk has been active in U.S. politics. He contributed $366 million this election cycle and agreed to co-lead a Pentagon project on future warfare.
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The significant revenue growth and increased capital expenditures could positively influence investor sentiment towards SpaceX and related tech sectors. The stock's rise in after-hours trading reflects market optimism about the company's future in AI and satellite communications. Investors will watch for further developments regarding SpaceX's role in geopolitical issues and any upcoming announcements related to its AI investments.
Based on reporting by: businessinsider.com, theguardian.com