SpaceX's Q3 2026 earnings reveal a major shift toward high-performance compute rentals, with the company's AI business generating $7.5 billion this quarter.
The report highlights how infrastructure demand is influencing total revenue, which rose 161% to $14.6 billion.
On the connectivity side, Starlink growth continues with 13.6 million subscribers, alongside technical updates regarding the production ramp-up of the power-efficient V5 dish architecture.
According to what SpaceX CFO Brett Johnson said during the third quarter 2026 investor briefing, the company strategically managed its distribution to prioritize retail sales ahead of the holiday season.
At the same time, the company has increased production of the newer V5 antenna model in the third quarter of 2026 to prevent shortages and accelerate manufacturing. This model offers similar performance without a significant speed increase compared to the older version, but is smaller, lighter and consumes less power.
Currently, the V5 antenna is available through the company's official website for the basic home plan and is not yet sold by third-party stores in the United States. At the same time, the company is dropping the price of the first version of the small Mini antenna to $149 on its website to clear out older inventory.
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In the third quarter of 2026, the service's total subscribers reached 13,6 million worldwide, up from 12 million in the previous quarter. This growth includes personal and business plans, excluding government customers and those in sectors such as transportation and aviation. The addition of 1,6 million new subscribers in the period was slightly down from 1,7 million new users in the previous quarter.
Analysts point out that there may be seasonality, as there were more than 1 million new registrations in the first six weeks and 600.000 in the last seven weeks of the quarter. On the financial side, connectivity revenue increased by 69% compared to the same period last year and exceeded $5,2 billion, while the company's total revenue jumped to $14,6 billion, mainly due to activity in artificial intelligence.
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