SpaceX Q3 AI revenue $7.5B, net profit $4.4B, swings to profit

SpaceX posted Q3 revenue of $14.6B, with the AI business line, renamed Super Intelligence, contributing $7.5B from the Cursor coding tool, the Grok bot, and a 1.7GW neocloud business; that line earned $431M in profit (higher excluding a $1.2B one-time stock comp charge tied to the Cursor acquisition). Net profit was $4.4B, swinging from a $1B loss a year earlier, though the first nine months still show a cumulative $413M loss. Capex hit $19.6B, with another $35B to $40B expected in Q4 for the Colossus II data center and Starship. For teams running large compute clusters, the bottleneck Musk cited is notable: turbine makers face 12- to 18-month delays for metal blades and vanes, so SpaceX turned to in-house metal casting to get turbines faster and deploy power and cooling infrastructure more quickly. For developers buying cloud compute, neocloud expansion may mean more inference capacity, but high capex and one-time stock comp charges are squeezing margins near term. Starlink reached 13.6M users, and Musk expects AI agent growth to drive connectivity demand; the next Starship test flight, expected in November, will attempt to recover both the booster and the upper stage.