Space Exploration Technologies Corp Class A

SPCX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SpaceX Earnings: Neocloud Rent and Starlink Growth Shine; Fair Value Up 13% to $70

Nicolas Owens

Oct 21, 2026

SpaceX's third-quarter revenue grew 161% since 2025 to $14.6 billion, led by sequential quintupling of AI revenue driven by neocloud rentals. Starlink rose 69.5% and contributed $2.4 billion in operating profit, followed by $431 million operating income from AI and the launch business breaking even.

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Space Exploration Technologies Corp Class A

SpaceX Earnings: Neocloud Rent and Starlink Growth Shine; Fair Value Up 13% to $70

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