Starlink · SpaceX · Elon Musk · Cursor · Bitcoin · TechCrunch AI
SpaceX’s data centers and Grok agents were more profitable than investors expected in third quarter of the year
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CEO Elon Musk’s deep tech conglomerate reported $14.6 billion in third-quarter revenue on Tuesday, according to its regulatory filing.
Key facts
- Musk took a particularly bullish stance on the company’s Super Intelligence business segment, predicting that SpaceX’s annual recurring revenue by the end of 2027 will be “somewhere between $500 billion and $1 trillion
- More concretely, Johnsen forecast total revenue for the first quarter of 2027 in the range of $33 billion to $37 billion
- SpaceX reported net income of $4.4 billion, a turnaround from the $1 billion loss in the same quarter last year
- CEO Elon Musk’s deep tech conglomerate reported $14.6 billion in third-quarter revenue on Tuesday, according to its regulatory filing
Summary
SpaceX’s data centers and Grok agents were more profitable than investors expected in third quarter of the year, as the company leaves its roots as a space company behind to focus on artificial intelligence, which now makes up 52% of its income. That number was driven by growth in all segments, but especially its renamed “Super Intelligence” business line, which generated $7.5 billion in revenue from the recently acquired Cursor coding tool, Grok bot, and most importantly, the company’s burgeoning neocloud business, which now boasts 1.7 GW of compute. The top-line revenue number was also boosted by about $1 billion in income related to the recovery of Bitcoin prices and unspecified related-party income that might be attributed to a SpaceX investment in another company.