SpaceX Recasts Itself as an AI and Connectivity Powerhouse

Overview

• This week (Oct. 20–22) SpaceX reported third‑quarter revenue of about $14.6 billion, a 161% year‑over‑year increase, and a roughly $4.4 billion profit.
• SpaceX’s Super Intelligence unit now supplies the majority of sales and management raised first‑quarter 2027 revenue guidance to $33 billion to $37 billion.
• Capital spending surged to about $19.6 billion in the quarter and the company guided materially higher capex going forward, leaving free cash flow negative and funding needs elevated.
• Bloomberg reported SpaceX is pursuing at least 80,000 U.S. cell sites and has held talks with tower companies including Crown Castle, and Elon Musk said the company is fairly confident it can add roughly 10 gigawatts of compute in 2027; those plans remain developing and partly unconfirmed.
• Wall Street reaction is split with JPMorgan lifting its price target to $500 while others remain lower, and the near term now hinges on three execution points: building the promised compute capacity, closing large-scale tower and spectrum deals, and succeeding in upcoming Starship launch milestones.