{
  "id": 15801626,
  "title": "SpaceX posts first operating profit as public company as AI revenue nearly triples to $7.6 billion—cruising past Starlink",
  "url": "https://urgent.news/2026/10/20/spacex-posts-first-operating-profit-as-public-company-as-ai-revenue",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-20T20:32:28.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/20/spacex-q3-profit-ai-si-elon-musk/"
  },
  "original_language": "en",
  "account": "Elon Musk's SpaceX announced on Tuesday that its third quarter revenue surged by 161% year-over-year, reaching $14.6 billion, surpassing the $12.86 billion forecast from S&P Global Market Intelligence's Visible Alpha consensus. The company reported a net income of $4.4 million, or 35 cents per share, compared to a net loss of $541 million in the previous quarter and $5.5 billion a year ago. Operating income increased to $2.79 billion, up from a loss of $143 million in the second quarter, exceeding analysts' expectations by a significant margin. SpaceX's AI segment, now renamed \"Super Intelligence,\" generated $7.56 billion in revenue, nearly tripling compared to the $6.47 billion expected and up from $2.56 billion in the second quarter. Connectivity revenue, primarily from Starlink, rose 69% to $5.25 billion, surpassing the $4.92 billion forecast, while connectivity operating income nearly doubled to $2.37 billion. Despite adding 1.6 million consumer subscribers to Starlink, falling short of the 2.29 million subscribers predicted, overall revenue rose 6% to $1.77 billion, exceeding the $1.46 billion consensus estimate. Capital spending amounted to $19.6 billion in the quarter, but the release did not include a full-year forecast, leaving analysts eagerly awaiting projections. SpaceX's capital investments are projected to nearly triple, from approximately $70 billion this year to $197.4 billion in the 2028 fiscal year, according to Visible Alpha's global head of research, Melissa Otto. The company's debt is expected to nearly quadruple from $50.7 billion in 2025 to $350 billion in 2029, as per Otto's estimates. SpaceX recently agreed to purchase 800 megahertz-band licenses from Grain Management, a global investment firm specializing in digital infrastructure, for $8 billion, subject to FCC approval, for its Starlink Mobile phone service. Musk also announced plans to offer a share of SpaceX stock to \"every kid in America\" the following year, estimating the donation's value at around $10.5 billion, based on U.S. Census figures. Musk's shares in SpaceX are currently locked until 2027 due to an extensive agreement he signed before the company's IPO in June.",
  "summary": "Computing leases, the Cursor acquisition, Grok, and reported deals with Anthropic and Google pushed AI revenue past Starlink for the first time as a public company",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Musk’s SpaceX turns profit as AI cloud deals pay off",
        "url": "https://urgent.news/2026/10/20/musks-spacex-turns-profit-as-ai-cloud-deals-pay-off",
        "published": "2026-10-20T22:14:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}