SpaceX reported a net income of $4.4 billion for the quarter ended September 30, up from a $1.1 billion loss a year earlier. Revenue rose 161 % YoY to $14.58 billion, driven primarily by AI services.
On an adjusted per‑share basis the company earned 45 cents, well above the 13 cents consensus estimate. Analysts had expected a profit of $1.57 billion; the beat gave the stock a 4.9 % rally in after‑hours trading.
AI revenue alone jumped 161 % to $7.56 billion, almost a tenfold increase from the previous quarter, largely from renting data‑centre capacity to developers such as Anthropic and Alphabet. CFO Bret Johnsen said the company is targeting $100 billion of annual recurring revenue by the end of 2026.
Shareholder sentiment toward a potential merger with Tesla has intensified after Musk confirmed that special committees are in place. Barclays Research suggested a deal announcement could precede Tesla’s December annual meeting, adding another layer of speculation to the price action.
SpaceX plans to spend $35 billion to $40 billion on capital expenditure in Q4, with AI infrastructure accounting for $16.4 billion of the $19.6 billion cap‑ex. The company’s board will need shareholder approval to proceed with any merger, a decision that could reshape the aerospace and EV sectors.