The company's Super Intelligence AI division became its largest business, generating $7.56 billion in revenue, up 830% year-over-year and 195% from the second quarter, and swinging to its first operating profit of $431 million from a $1.72 billion loss a year earlier. AI growth was driven by cloud services agreements, the acquisition of Cursor and software applications including the newly introduced agentic system Grok Bot. Connectivity revenue grew 69% to $5.25 billion as Starlink consumer subscribers rose 89% to 13.6 million, while Space revenue increased 6% to $1.77 billion despite total launches of 35 missing estimates of 41.
Quarterly capital expenditures nearly tripled to $19.59 billion, with $16.44 billion, or 84% of the total, going to AI infrastructure as installed compute capacity expanded to 1.7 GW from 1.4 GW in the prior quarter. SpaceX ended the period with $51.29 billion in cash and equivalents plus $38.56 billion in marketable securities, and also announced plans for a Starbase spaceport in Louisiana targeting a first Starship launch in 2029 after completing its first revenue-generating Starship flight delivering 26 Starlink V3 satellites. Shares edged up about 1% to 1.5% in after-hours trading, while prediction market Kalshi priced a 60% chance that SpaceX and Tesla merge within a year.