SpaceX announced its first quarterly profit as a public company on Tuesday, posting a net income of $4.4 billion for the July-September period. According to Punch, this result marked a sharp reversal from the $1.1 billion loss recorded in the same quarter a year earlier. The company’s total revenue increased by 161 percent to reach $14.6 billion, driven largely by soaring sales from its artificial intelligence division.
The AI unit, which SpaceX now brands as “Super Intelligence,” emerged as the company’s largest source of sales, overtaking the Starlink satellite internet business. Punch reported that revenue from this division rose more than nine times year-over-year to $7.6 billion. The company attributed this growth to new cloud services agreements, the wider adoption of its Grok chatbot, and the acquisition of the AI coding startup Cursor. Major clients include Anthropic, which committed to paying approximately $45 billion over three years for access to SpaceX’s Colossus data centers, and Google, which agreed to a monthly fee of $920 million from October through June 2029.
While the AI division turned an operating profit of $431 million, spending across the company remains heavy. SpaceX invested $19.6 billion in the quarter, with $16.4 billion allocated specifically to AI, pushing total capital spending for the first nine months to $48 billion. Computing capacity expanded to 1.7 gigawatts, a significant increase from the 0.6 gigawatts available a year prior. Meanwhile, the Starlink unit saw revenue grow 69 percent to $5.2 billion, with consumer subscribers reaching 13.6 million, although average monthly revenue per consumer declined to $69.
The financial results followed a challenging initial period on the Nasdaq exchange. SpaceX started trading on June 12 after an initial public offering priced at $135 per share, which raised approximately $85.7 billion. Its first earnings report as a listed company had shown a net loss of $541 million for the second quarter. Following the latest results, stock prices climbed by over 2 percent in extended trading. The company also completed the first revenue-generating flight of its Starship rocket, carrying 26 next-generation Starlink satellites into orbit, and agreed to buy spectrum licenses for a planned mobile service expected to close in the first half of 2027.