Live: ASX set to rise as SpaceX AI revenue surges

SpaceX reported third-quarter revenue of $14.6 billion, representing a 161% increase year-over-year and exceeding analyst estimates. The company's "Super Intelligence" (SI) segment, which includes Grok, X, and data-center operations, drove significant growth. The Verge reported SI revenue reached $7.6 billion, a figure it noted was up 830% year-over-year due to new cloud services agreements, the acquisition of Cursor, and increased Grok adoption.

Business Recorder states the AI business earns revenue primarily by renting out data-center capacity to developers such as Anthropic, Google, and Reflection AI.

The company's connectivity business, driven largely by Starlink, saw revenue rise to between $5.2 billion and $5.25 billion. Fortune reported that Starlink added 1.6 million consumer subscribers during the quarter, though this fell short of analyst predictions of 2.29 million. The Space division's revenue rose 6% to approximately $1.77 billion to $1.8 billion.

SpaceX reported a net income of $4.4 million for the quarter, a turnaround from a net loss in the second quarter and a year ago. Operating income reached $2.79 billion according to Fortune. The SI group posted $431 million in operating income, according to The Verge and Techmeme, which noted this was an increase from a previous $1.7 billion loss. Capital spending for the quarter was $19.6 billion.

Brief written by urgent.news from ABC News AU, Business Recorder, Fortune, The Verge, Techmeme — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.