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Business & Finance · October 20, 2026

SpaceX revenue soars 161% as AI business grows

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SpaceX reported a significant financial turnaround in its third-quarter earnings call on October 20, 2026, featuring a 161% revenue increase and a $4.40 billion profit. This growth was primarily driven by the company's expanding artificial intelligence business and Starlink satellite services. During the earnings call, CEO Elon Musk confirmed that both SpaceX and Tesla have formed special committees of independent directors to explore a potential merger, currently estimated at a combined valuation of approximately $3.5 trillion. Musk noted he is recused from these discussions due to conflicts of interest, while both companies' stock prices rose following the news.

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Reported by multiple outlets

  • SpaceX revenue grew by 161% compared to the same period the previous year.
  • SpaceX reported a quarterly profit of $4.40 billion, turning around from previous losses.
  • Special committees of independent directors have been formed at both Tesla and SpaceX to explore a merger.
  • Elon Musk is recused from merger discussions due to his role as CEO and shareholder in both companies.
  • The growth was largely attributed to satellite communications (Starlink) and AI/computing power leasing.
  • SpaceX and Tesla stock prices rose in after-hours trading following the announcements.

Reported by only some outlets

  • The AI business has overtaken Starlink as SpaceX's biggest moneymaker.
  • The potential merger is valued at $3.5 trillion.
  • SpaceX previously lost $1.05 billion in the same quarter a year earlier.
  • The merger committees were formed at the request of shareholders.

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