SpaceX's AI business is now over half its revenue, while rockets are barely 12%

SpaceX's third-quarter results show revenue up 161% to $14.6 billion. Its SI segment (formerly reported as AI) brought in $7.6 billion, 52% of the total and up from $813 million a year earlier, driven by cloud services deals, the Cursor acquisition and Grok. Starlink connectivity grew 69% to $5.2 billion, while the Space segment of launches and Starship grew 6% to $1.8 billion and posted a small operating loss. SI took $16.4 billion of $19.6 billion in quarterly capex.