SpaceX Q3 Capital Spending Climbs to $19.6 Billion, Led by Super Intelligence

SpaceX’s capital expenditures climbed to $19.593 billion in the quarter ended Sept. 30, with Super Intelligence accounting for most of the spending as it led the company’s businesses in revenue.

Spending rose from $6.880 billion a year earlier and $18.369 billion in the second quarter. Super Intelligence accounted for $16.444 billion of the latest total, compared with $15.828 billion in the second quarter, as covered in an earlier earnings preview.

The segment generated $7.560 billion in third-quarter revenue, ahead of Connectivity at $5.248 billion and Space at $1.767 billion. SpaceX previously called the segment Artificial Intelligence. Its nameplate compute capacity reached 1.7 gigawatts on Sept. 30, up from 1.4 gigawatts at the end of June.

Total revenue rose 161% to $14.575 billion from $5.576 billion a year earlier. Net income reached $4.404 billion, reversing a $1.054 billion loss, while diluted earnings per share were $0.35 compared with a $0.36 loss.

Adjusted EBITDA, a non-GAAP earnings measure, rose to $8.809 billion from $2.169 billion a year earlier. It was $3.538 billion in the second quarter.

At quarter-end, SpaceX held $51.294 billion in cash and cash equivalents and $38.561 billion in marketable securities. Its balance sheet listed $2.698 billion in current debt and finance leases and $36.146 billion in long-term debt and finance leases.