10 Nov 2026
SpaceX now makes more from AI than from Starlink
In the quarter to Sep 2026, SpaceX's AI business brought in $7.0B, more than Starlink's $5.2B. A year earlier it made $359M. One customer, which the filing does not name, accounts for $5.0B of it. Cursor, bought in August, added $608M.
The quarter to Sep 2026
- AI
- $7.0B
- 48% of revenue, without advertising
- Starlink
- $5.2B
- 36% of revenue
- One customer
- $5.0B
- 35% of revenue, not named
- Cursor
- $608M
- In the 48 days since the purchase
SpaceX's $14.6B of revenue, by segment
Each area is in proportion to its revenue.
Quarter to Sep 2026
AI $7.6B, 52%
One customer, not named in the filing $5.0B35% of all SpaceX revenue
Cursor $608Msince 14 Aug
Other AI, including Grok $1.4B
Advertising $538M
Starlink $5.2B, 36%
Consumer $3.1B
Enterprise and government $2.1B
Rockets $1.8B, 12%
Launch services $1.1B
Launch and development $637M
| Segment | Revenue line | Revenue |
|---|---|---|
| AI | One customer, not named in the filing | $5.0B |
| AI | Cursor, since 14 Aug | $608M |
| AI | Other AI, including Grok | $1.4B |
| AI | Advertising | $538M |
| Starlink | Consumer | $3.1B |
| Starlink | Enterprise and government | $2.1B |
| Rockets | Launch services | $1.1B |
| Rockets | Launch and development | $637M |
SpaceX's revenue by segment, each quarter
In billions of dollars. The AI segment here includes advertising, as SpaceX reports it.
Mar 2025 to Sep 2026
About the data
- Every figure is from SpaceX's filings with the SEC: the quarterly reports for June and Sep 2026, and the IPO prospectus for 2025.
- SpaceX reports three segments. We call Connectivity "Starlink" and Space "Rockets". Its AI segment was renamed Super Intelligence in September 2026.
- "AI" in the headline is the revenue line SpaceX calls SI solutions and infrastructure, $7.0B. The segment also holds $538M of advertising. With it the segment is 52% of revenue.
- The one customer is "Customer B" in the filing: 34.5% of the quarter's revenue, all of it in the AI segment. The dollar figure is that share of total revenue. The customer was below the 10% reporting threshold a year earlier.
- SpaceX bought Cursor on 14 August 2026. Its $608M is revenue from that date to 30 September, not a full quarter. "Other AI" is what remains of the line.
- SpaceX's reports give some quarters only as part of a longer period. January to March is the half year less the June quarter, and October to December 2025 is the full year less the first nine months.
- Quarters before February 2026 include xAI and X, as SpaceX restated them after the merger.
- How we collect and check the data behind Company Tracker: About.