The company posted a net profit of $4.4 billion for the July-to-September period, compared with a loss of $1.1 billion in the corresponding period a year earlier. Revenue reportedly climbed by 161 per cent to $14.6 billion, while its shares gained more than two per cent in after-hours trading.

The reported results mark a significant improvement on SpaceX’s previous quarterly performance, when it recorded revenue of $7.8 billion and a net loss of $541 million.

Its artificial intelligence business, described in the supplied report as “Super Intelligence,” was identified as the main driver of the turnaround. Revenue from the unit reportedly increased more than ninefold year-on-year to $7.6 billion, surpassing Starlink’s satellite internet business as SpaceX’s largest revenue source for the quarter.

The growth was attributed to new cloud-computing agreements, increased adoption of the Grok chatbot and the reported acquisition of Cursor, an artificial intelligence coding startup.

Among the company’s reported cloud customers is Anthropic, which allegedly agreed to pay nearly $45 billion over three years for computing capacity at SpaceX’s Colossus data centres. Google was also reported to have signed a separate agreement involving monthly payments of $920 million from October through June 2029.

Despite the revenue surge, investment in artificial intelligence infrastructure remains substantial. SpaceX reportedly spent $19.6 billion during the quarter, including $16.4 billion on AI-related projects. This brought its capital expenditure for the first nine months of the year to $48 billion.

The company’s computing capacity also reportedly increased to 1.7 gigawatts, compared with 0.6 gigawatts a year earlier. However, the scale of the investment highlights the significant costs involved in expanding computing infrastructure to meet growing demand for AI services.

Starlink, SpaceX’s satellite internet business, also recorded growth, with revenue reportedly rising 69 per cent to $5.2 billion. Its consumer subscriber base reached 13.6 million, although average monthly revenue per consumer fell to $69 from $83 a year earlier.

Beyond its AI and internet businesses, SpaceX continues to develop Starship, the giant rocket intended to support future space missions and large-scale satellite deployment. The supplied report said the company completed its first revenue-generating Starship flight, carrying 26 next-generation Starlink satellites into orbit.

SpaceX was also reported to have agreed to purchase spectrum licences for a planned Starlink mobile service, with the transaction expected to close in the first half of 2027.

The reported financial performance comes amid potential changes in share ownership, as restrictions governing sales by insiders and early investors are expected to expire for eligible shares following the quarterly results.

The figures, if confirmed by company filings, would underscore SpaceX’s expanding ambitions beyond rocket launches and satellite internet into the highly competitive AI computing market.

Reporting by TalkNaija Media