SpaceX returns to profit amid major expansion plans

Elon Musk’s SpaceX posted its first profit as a publicly traded company, reporting a $4.4 billion gain in the third quarter, reversing its previous losses.

Its businesses include Starlink, a satellite internet service, the Grok AI chatbot, and the social media platform X.

SpaceX had reported a $541 million loss in the second quarter. Earlier this year, the company disclosed $13 billion in losses since the start of 2023.

Musk expects revenue to rise sharply as SpaceX invests in AI and expands Starlink. He projected annual recurring revenue of $500 billion to $1 trillion by the end of 2027, compared with about $27 billion recorded so far in 2026.

The company also aims to develop space-based data centers and establish a colony on Mars. Both projects involve significant technical and financial risks.

Meanwhile, Musk has voiced support for merging SpaceX and  Tesla, arguing that the deal could offer significant benefits.

SpaceX already merged with Musk’s xAI startup this year.

Separately, The Wall Street Journal reports that Musk recently restricted Ukraine’s access to the Starlink satellite network, disrupting critical military missions against Russia.

President Donald Trump said he did not know who ordered the slowdown but wanted to investigate.