SpaceX reported third-quarter revenue of $14.6 billion and net income of $4.4 billion on Oct. 20, 2026, as its artificial intelligence and connectivity operations expanded. The results put the scale of its AI infrastructure business alongside the cost of building that capacity.
Revenue rose 161% from a year earlier, according to the company’s earnings release furnished with its Form 8-K. Quarterly operating income was $2.8 billion.
AI becomes the largest revenue segment
The segment SpaceX calls Super Intelligence generated $7.56 billion in revenue, compared with $5.25 billion from Connectivity and $1.77 billion from Space. Super Intelligence recorded operating income of $431 million after an operating loss in the comparable quarter last year.
The Associated Press reported that the profit reversed a period of losses as satellite communications and computing-power leasing grew. AP also noted investor concerns about the company’s spending on major projects.
Capital spending remains substantial
SpaceX disclosed $19.59 billion in quarterly capital expenditures, including $16.44 billion in Super Intelligence. Capital spending and operating income measure different things; neither figure should be treated as a substitute for the other.
For enterprise buyers, the relevant distinction is between an expanding infrastructure supplier’s reported financial scale and the performance of a particular service. These earnings do not establish service quality, deployment suitability or future returns for customers.