SpaceX AI 业务超预期，三季度营收 146 亿美元、AI 收入占比 52%
SpaceX’s AI business is beating expectations
- 1SpaceX 三季度营收 146 亿美元，AI 已占其收入的 52%
- 2新 AI 业务线 Super Intelligence 含 Cursor、Grok 与 1.7 GW 算力
- 3季度净利润 44 亿美元扭亏，总资本开支 196 亿美元，前九个月仍净亏 4.13 亿美元
- 4马斯克预测 2027 年底 ARR 将在 5000 亿至 1 万亿美元之间
SpaceX 收入结构已过半来自 AI，公司实质转向算力与模型业务，盈利回正但资本开支仍高于营收。
- 影响：企业外购算力新增一个 1.7 GW 级供给方，比价空间随之扩大；公司仍处重资本投入期，前九个月整体尚未盈利；约 10 亿美元比特币相关收益抬高了营收基数。
- 参考：采购 GPU 算力时可将其 neocloud 纳入比价清单并核实 1.7 GW 的可用部分；解读财报宜剔除比特币相关收益再对比；对其 2027 年 ARR 预测可先与当期季度营收折算对照。
- 依据：营收、净利、资本开支与 1.7 GW 数字出自监管文件；盈利超预期为该报道表述；2027 年 5000 亿至 1 万亿美元 ARR 为马斯克个人预测。
SpaceX’s data centers and Grok agents have been more profitable than investors expected in second quarter of the year, as the company leaves its roots as a space company behind to focus on artificial intelligence, which now makes up 52% of its income.
Elon Musk’s deep tech conglomerate reported on Tuesday $14.6 billion in third-quarter revenue, according to its regulatory filing. That number was driven by growth in all segments, but especially it’s renamed “Super Intelligence” business line, which includes the recently-acquired Cursor coding tool, Grok bot, and most importantly, the company’s burgeoning neocloud business, which now boasts 1.7 GW of compute.
The top-line number was also boosted by about $1 billion in income related to the recovery of bitcoin prices and an unspecified related-party income that might be attributed to a SpaceX investment in another company.
The growing revenue is balanced against total capital expenditures of $19.6 billion, as SpaceX continues to build out a second data center project, Colossus II, and increase investment in Starship, the heavy lift rocket it sees as vital to deploying a new generation of Starlink satellites and developing orbital data centers.
In spite of those capital expenditures, the company’s revenue boost was substantial enough to push it back into profitability. SpaceX reported net income of $4.4 billion, a turnaround from the $1 billion loss in the same quarter last year. It will still have some catching up if it wants to remain profitable for the year, however. In the first nine months of the year, SpaceX still had a net income loss of $413 million.
CEO Elon Musk took a particularly bullish stance on the company’s Superintelligence business segment, predicting that SpaceX’s annual recurring revenue by the end of 2027 will be “somewhere between $500 billion and $1 trillion.”
This is a developing story. TechCrunch will update.
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
Tim Fernholz is a journalist who writes about technology, finance and public policy. He has closely covered the rise of the private space industry and is the author of Rocket Billionaires: Elon Musk, Jeff Bezos and the New Space Race. Formerly, he was a senior reporter at Quartz, the global business news site, for more than a decade, and began his career as a political reporter in Washington, D.C. You can contact or verify outreach from Tim by emailing [email protected] or via an encrypted message to tim_fernholz.21 on Signal.
Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.
You can contact or verify outreach from Kirsten by emailing [email protected] or via encrypted message at kkorosec.07 on Signal.
来源：TechCrunch · AI · techcrunch.com