SpaceX Q3 Revenue Hits $14.6B as Musk Advances Tesla Merger Talks

Key points

• SpaceX Q3 revenue reached $14.6 billion, up 161% year-over-year, beating estimates of $12.72 billion.
• The company posted a net income of $4.4 billion, reversing a $1.05 billion loss from the same period last year.
• AI infrastructure, branded as Super Intelligence, generated $7.56 billion, a ninefold increase from $813 million a year ago.
• Musk stated that boards of both SpaceX and Tesla have formed committees to evaluate a potential merger.
• SpaceX forecasted Q1 2027 revenue between $33 billion and $37 billion, significantly exceeding analyst expectations.

Background

SpaceX debuted on the Nasdaq in June 2026 in the largest IPO ever. Recent archive coverage noted that the company achieved its first quarterly profit since going public, with AI revenue overtaking its Starlink satellite service. Earlier reports also highlighted that Musk recused himself from merger discussions due to conflicts of interest, though current data confirms active committee formation.

Why it matters

The results validate the bull case for AI cloud providers, suggesting strong pricing power and insatiable demand for compute capacity. A potential SpaceX-Tesla merger would represent the largest in history, potentially reshaping the tech landscape by combining space, AI, and EV infrastructure under one entity.

What to watch

Tesla is scheduled to report its Q3 earnings after the market close on Wednesday. Investors will watch for further developments in the merger committees and whether SpaceX can sustain its aggressive revenue growth trajectory into 2027.