SpaceX's 161% Revenue Jump Has r/stocks Debating the Capex Bill
As seen on the 24/7 Wall St. homepage on October 20, 2026.
Sure, why not. Great revenue growth for AI up to $7.5B with Capex a mere: *Looks at numbers: $16.5B*. They’ve spent $40B on AI capex this year for $10.9B in revenue. This is madness.
SpaceX's $14.58 billion quarter came in above expectations, but r/stocks is arguing about the bill behind it: capex is outrunning the AI revenue it funds. That puts the valuation debate front and center.
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SpaceX reported $14.58 billion in third-quarter revenue, beating expectations, with 161% growth driven by its AI business and continued Starlink subscriber gains.
Commenters on r/stocks are focused on the gap between AI revenue and the capital spending funding it, with cumulative AI capex for the year at $40 billion. That gap is what has 296 commenters arguing about whether the growth story holds together.
Starlink is moving into new territory, with SpaceX purchasing low-band spectrum this month and winning FCC approval for a 15,000-satellite constellation, a push toward a full U.S. mobile network. SpaceX also closed its acquisition of AI coding startup Cursor during the quarter.
Several commenters flagged the price-to-sales multiple as stretched, with one noting an edited figure of 150 times sales. The 2% share price gain on the day reflects a market that sees the revenue beat but has not yet resolved the capex question.