Tesla and SpaceX CEO Elon Musk will attend the American Golden Age of Innovation Summit on October 8, 2026 at the Institute of Peace in Washington, DC.
Win McNamee | Getty Images
space x Shares soared in premarket trading Wednesday after the company reported a surge in third-quarter sales and owner Elon Musk hinted at the possibility of SpaceX.tesla merger.
The space company, which debuted on the Nasdaq in June with the largest IPO in history, on Tuesday reported third-quarter revenue of $14.6 billion, up 161% from a year earlier, beating the LSEG consensus estimate of $12.72 billion.
Meanwhile, operating income was $2.8 billion and net income was $4.4 billion, compared to a net loss of $1.05 billion in the same period last year.
Musk said in an earnings call that he is considering a merger with Tesla, which would be the largest merger in history, and that the boards of both companies have formed a special committee to discuss the merger.
“I think there’s a lot of benefit to combining our two companies because we’re almost at the superintelligence singularity. There’s a lot to gain by working together,” Musk said on a conference call. Tesla is scheduled to report third-quarter results after the closing bell on Wednesday.
SpaceX stock rose 10.4% before the market open on Wednesday. Meanwhile, Tesla shares rose 2.1% in premarket trading.
Other space-related stocks rocket lab, intuitive machineand AST Space Mobileboth rose in pre-market trading.
I have held shares in SpaceX since it was listed on the Nasdaq.
SpaceX expects revenue of $33 billion to $37 billion in the first quarter of 2027, beating the average analyst estimate of $22.2 billion according to LSEG.
“We had another strong quarter in the third quarter, with revenue up an impressive 161% year-over-year, driven by continued momentum in connectivity and clear changes in our Superintelligence business,” SpaceX Chief Financial Officer Brett Johnson said in a statement.
Johnson pointed to recurring revenue from its satellite internet business, Starlink, and significant expansion in its Super Intelligence (SI) infrastructure as supporting the strong results.
The company entered AI (now called SI) this year. The division is the company’s largest business unit, with sales soaring ninefold to $7.56 billion from $813 million in the same period last year.
A bullish case for AI cloud providers
Analysts at Trust Securities said in a note Tuesday that comments on computing during the earnings call supported the AI cloud provider’s “continued pricing power and shortened payback period.”
“Despite market concerns regarding funding for AI cloud providers last week, we believe SpaceX’s Q3 2026 will be the first data point during earnings season that supports a bullish picture for AI cloud providers,” they added.
They described demand as “insatiable” and noted that SpaceX could lease out several times its capacity. Analysts said Coreweave and Nevius should benefit and capture demand because their “pricing power more than offsets rising interest rates.”
Share of cloud providers including Nevius, coreweave, Airenand applied digital Shares rose more than 3% in pre-market trading Wednesday following Musk’s comments.
— Lora Kolodny contributed to this report
