Elon Musk's SpaceX spent $16.4 billion growing its artificial intelligence business in the third quarter. That ended up being $2.2 billion more than the roughly $14.6 billion it pulled in as total revenue for the quarter.
The spending, referred to as capital expenditure, or capex, was up from $15.8 billion in the second quarter, bringing the AI division's total capex to nearly $40 billion year to date.
Revenue for the division, now called "Super Intelligence" following Trump's September order, came in at $7.6 billion, nearly tripling the previous quarter's figure. SpaceX pointed to cloud computing deals, its acquisition of AI coding company Cursor and increased Grok use as the biggest drivers.
Cursor alone contributed $608 million in revenue since SpaceX acquired it on Aug. 14. On Aug. 11, the company also introduced Grok Bot, which it describes as an "always-on agentic SI system."
SpaceX shares rose 4.2% to $154 in after-hours trading following the results.
The division reported a $431 million operating profit, which reversed a $1.3 billion operating loss in the second quarter.
SpaceX's computing capacity jumped by more than 21% to 1.7 gigawatts at the end of September, up from 1.4 GW in June. It also said it "signed additional cloud services agreements during the quarter, increasing our pipeline of critical SI infrastructure capacity for third-party customers."