SpaceX Posts $14.6B Quarter: AI Unit Drives 161% Revenue Jump and After-Hours RallySpaceX Posts $14.6B Quarter: AI Unit Drives 161% Revenue Jump and After-Hours Rally
Key Highlights
- SpaceX reported third-quarter revenue of KSh 1.90T ($14.6B), a 161% rise on a year earlier, and its shares jumped after the market closed.
- Its artificial intelligence unit earned KSh 987.39B ($7.6B), more than Starlink and launches combined, shifting what investors buy when they hold the stock.
- The shares ended Tuesday slightly lower, so the after-hours move shows how much weight investors put on the figures.
SpaceX has reported third-quarter revenue of KSh 1.90T ($14.6B), up 161% on a year earlier, and its shares rose by as much as 5.15% in after-hours trading after the US market closed on Tuesday 20 October.
The result shows that the rocket and satellite company now earns most of its money from artificial intelligence rather than launches, a shift that matters for African investors who track the listed company through global funds and for governments weighing satellite internet contracts.
What the numbers show
According to SpaceX, its Super Intelligence segment earned KSh 987.39B ($7.6B) in the quarter, up 830% on the same period last year. Connectivity, which includes Starlink, brought in KSh 675.58B ($5.2B), up 69%. The space segment, covering launches, contributed KSh 233.86B ($1.8B), up 6%.
The company said its AI segment made an operating profit of KSh 55.99B ($431M) in the quarter, compared with an operating loss of KSh 220.86B ($1.7B) in the third quarter of 2025. In the second quarter of 2026 the segment lost KSh 168.9B ($1.3B).
Starlink ended the quarter with 13.6 million subscribers. SpaceX completed 12 customer launches in the quarter, including its first revenue-generating Starship mission, and has flown 113 launches so far this year.
How the shares reacted
SpaceX, listed on the Nasdaq as SPCX, closed on Tuesday at KSh 19,201 ($147.79), down 0.11%. After the results, the price rose to about KSh 20,190 ($155.40) in early after-hours trading. Options traders had priced in a move of about 8% either way.
The company's market value stands at roughly KSh 261.14T ($2.01T) on publicly traded shares. The shares are still about 8% lower than at the 2026 listing, and trade well below their 52-week high of KSh 29,315 ($225.64).
Mwenendo earlier reported on how Elon Musk's fortune topped KSh 129.92T ($1T) again when SpaceX shares rebounded, because most of his estimated wealth is tied to the company. Wealth rankings move with the share price, so Wednesday's trading will set the next figure.
Cash and costs
SpaceX reported KSh 6.94T ($53.39B) in cash, cash equivalents and restricted cash at the end of September. Costs in the AI segment were KSh 597.63B ($4.6B), against KSh 126.55B ($974M) in connectivity and KSh 47.68B ($367M) in space.
The company did not give forward guidance in the figures reviewed by Mwenendo. Its chief financial officer, Bret Johnsen, credited launch leadership, recurring Starlink revenue and expansion of the AI business for the performance.
Why it matters in Africa
Starlink is already sold in several African markets, and regulators in Kenya and elsewhere decide how satellite providers compete with local telecoms operators. A company that now earns more from AI computing than from connectivity has fresh capital to expand both, which can change pricing and coverage for businesses that depend on satellite links.
For investors, the quarter shows how quickly the stock's story has changed. Launches once defined the company; now AI contracts supply more than half of its revenue. Analysts will watch whether the segment holds its new profit margin when the next results are published, and whether the after-hours rally survives Wednesday's regular session.
Mwenendo converted dollar figures at KSh 129.92, the Central Bank of Kenya rate used by the desk.
In Summary
- Who reported the results?
- SpaceX, listed on the Nasdaq as SPCX.
- What was reported?
- Third-quarter revenue of KSh 1.90T ($14.6B), up 161% year on year, with AI revenue of KSh 987.39B ($7.6B).
- When were they released?
- After the US market close on Tuesday 20 October 2026.
- Where does the stock trade?
- On the Nasdaq, where shares closed at KSh 19,201 ($147.79) before rising in after-hours trading.
- Why does it matter?
- AI now supplies more than half of revenue, shifting the investment case from launches to computing.
- How did the market react?
- Shares rose as much as 5.15% to about KSh 20,190 ($155.40) in early after-hours trading.