SpaceX’s SI segment reaches $7.56 billion in quarterly revenue as infrastructure spending grows

Its earnings release reports a $431 million segment operating profit, while SI capital expenditure reaches $16.444 billion for the quarter.

SpaceX’s October 20 earnings release shows its Super Intelligence segment generating $7.56 billion in revenue for the quarter ended September 30. The segment reported $431 million in operating income, compared with operating losses in both the previous quarter and the same period a year earlier.

The figures describe the segment’s broader business, not sales of Grok alone. Its revenue table separates $538 million in advertising from $7.022 billion in SI solutions and infrastructure.

Revenue growth comes with a larger asset base

SpaceX attributes the increase to new cloud-service agreements, the acquisition of Cursor and greater adoption of Grok products. It reports 1.7 gigawatts of nameplate compute capacity at quarter-end, up from 1.4 gigawatts in June.

Nameplate capacity is a measure of rated infrastructure, not proof that every part is continuously used or producing revenue.

The segment’s capital expenditure reached $16.444 billion during the quarter. That investment is distinct from the operating expenses used to calculate its operating profit.

Read the financial measures separately

The release also reports adjusted earnings measures, which exclude specified items and should not be substituted for operating income. Comparing the accounting definitions matters when a growing business is also spending heavily on infrastructure.

For the group as a whole, quarterly revenue was $14.575 billion, so the SI segment accounted for more than half of the total. That revenue mix says something about the company’s changing activities; it does not establish that every part of its investment programme has earned an adequate return.

The quarter provides a concrete financial milestone for SpaceX’s AI-related expansion, with future utilisation and the returns on newly installed capacity still separate outcomes to observe.

Sources

- [SpaceX reports third-quarter2026 results — Exhibit99.1](https://www.sec.gov/Archives/edgar/data/1181412/000162828026066482/spaceexplorationtechnologi.htm) — SpaceX / US SEC