SpaceX Shares Jump 9.1% After Q3 Results and Bullish AI Infrastructure Forecast

SpaceX shares surged 9.1% to $161.30 following its third-quarter 2026 earnings release and optimistic AI infrastructure commentary from CEO Elon Musk. SpaceX reported that its Super Intelligence segment revenue grew 830% year over year to $7.6 billion, while guiding fourth-quarter capital expenditures to between $35 billion and $40 billion. Musk dismissed AI overcapacity concerns as 'ridiculous,' noting compute demand vastly exceeds supply. He stated that SpaceX plans to lease about half of its compute capacity dynamically at spot rates while retaining the remainder for internal projects including Grok and Cursor.