SpaceX reported third-quarter revenue of $14.58 billion, marking a 161% year-over-year increase, with a net profit of $4.4 billion. The company's AI division generated $7.56 billion, exceeding the $5.25 billion revenue from its connectivity business, including Starlink.
Capital expenditure for the quarter reached $19.6 billion, with $16.4 billion allocated to AI infrastructure. CFO Bret Johnsen indicated that total spending in the fourth quarter could range between $35 billion and $40 billion, significantly higher than market expectations.
SpaceX is reportedly seeking $40 billion in financing to acquire Nvidia AI chips, though the deal remains unfinalized. Nvidia shares currently hold an average analyst price target of $328.72, representing a potential 51.9% upside.
Micron, a supplier of high-bandwidth memory, reported quarterly revenue of $54.23 billion, a fourfold increase from the previous year. Analysts set an average price target of $1,561 for the stock, suggesting a 74.2% upside based on growing AI-related memory demand.
Seagate, which produces high-capacity hard drives for data centers, recorded fiscal 2026 revenue of $12.2 billion, up 34%. Analysts have set an average price target of $1,138 for the company, implying a 68.6% upside, though no direct supply agreement with SpaceX is confirmed.
