SpaceX Superintelligence Spending Reaches $16.444 Billion in Third Quarter
Key Facts
Capital expenditure in SpaceX’s superintelligence segment reached $16.444 billion in the third quarter ended September 30, 2026, compared with $4.760 billion in the same period last year, according to a company filing. The company’s total capital expenditure reached $19.593 billion for the quarter. The spending coincided with the segment’s revenue rising to $7.560 billion, from $813 million a year earlier and $2.561 billion in the second quarter. Total company revenue was $14.575 billion, compared with $5.576 billion a year earlier and $7.814 billion in the previous quarter. The chief financial officer said revenue grew 161% year over year, supported by momentum in connectivity and a “clear turnaround” in the superintelligence business.
The segment’s capital expenditure rose from $15.828 billion in the second quarter to $16.444 billion in the third, bringing its total for the first nine months of the year to $39.995 billion, compared with $8.077 billion in the same period of 2025. The company’s total capital expenditure was $48.069 billion in the nine months ended September 30. Nominal computing capacity was 1.7 gigawatts at the end of September, up from 1.4 gigawatts at the end of June and 0.6 gigawatts a year earlier. The figures reflect rapid expansion of computing infrastructure alongside growth in segment revenue. The company said revenue from the segment’s solutions and infrastructure increased by $6.7 billion year over year in the third quarter.
The company attributed growth in superintelligence revenue to the activation of new cloud service agreements, the acquisition of Cursor, and increased adoption of Grok among enterprise and consumer customers. Cursor generated revenue of $608 million from the acquisition’s completion on August 14 through the end of September, according to the filing. The segment posted operating income of $431 million, including $1.2 billion in stock-based compensation related to the Cursor acquisition during the quarter. The segment’s adjusted earnings before interest, taxes, depreciation and amortization were also $5.0 billion. The figures put the segment’s results in the context of rapid revenue growth, with acquisition-related items included in the operating income calculation.
Connectivity remained another growth pillar, with revenue of $5.248 billion in the third quarter, up 69.5% year over year and 22% from the previous quarter. Operating income reached $2.367 billion, up 98.9% from a year earlier. Consumer connectivity revenue rose 57% year over year, while enterprise and government revenue increased 91%. Starlink had 13.6 million consumer subscribers at the end of September, compared with 12 million at the end of June and 7.2 million a year earlier. Average monthly revenue per consumer subscriber also improved 5% from the previous quarter to $69.
The Associated Press reported that artificial intelligence became SpaceX’s largest segment by revenue in the third quarter, while Starlink remained its biggest profit generator. The divergence highlights the expansion of the computing and superintelligence businesses, alongside the continued importance of connectivity in generating profits. On space infrastructure, SpaceX said it completed Starship’s first orbital flight, carrying 26 Starlink V3 satellites. The company added that the payload represents about ten times the download capacity added by a Starlink satellite launch aboard Falcon 9. The development links the company’s computing investments with its expansion of space connectivity infrastructure.
SpaceX swung to net income of $4.4 billion in the third quarter, after reporting a net loss of $1.1 billion in the same quarter of 2025, according to the filing. The company said net income improved by $5.5 billion year over year. After the results were announced on October 20, shares rose 7.5% in after-hours trading, according to the Associated Press. EL7 data showed SPCX closing at 147.49 on October 23. The company had said the results discussion webcast would begin on October 20 at 3:30 p.m. Central Time, while the Associated Press reported its expected fourth-quarter capital expenditure of between $35 billion and $40 billion.