Space Exploration Technologies Corp. (SPCX) entered a binding commitment letter on October 24, 2026, to enter into a master finance lease with an entity managed by Apollo Global Management, Inc. Under the contemplated lease, the lessor would acquire and lease graphics processing unit pods and related equipment to the company for use at data centers it selects. The company’s entry into the master lease remains subject to specified closing conditions and is expected to close before year-end.
Equipment is expected to be delivered in tranches, each covered by a separate lease schedule with a term of approximately five to five-and-one-quarter years from its commencement date. Under the contemplated lease, rent would generally be payable quarterly in advance and include one-twentieth of each tranche’s financed cost, an amount calculated at a fixed rate per annum on the outstanding lease balance, and certain ongoing costs and expenses. The fixed rate will be determined at pricing before the company enters the master lease. Space Exploration Technologies expects aggregate principal payments of approximately $40 billion over the schedules’ respective terms. Lease schedules are expected to commence during the first half of 2027 upon GPU delivery.
Space Exploration Technologies Corp. (SPCX) reported third-quarter 2026 revenue of $14.575 billion, compared with $5.576 billion a year earlier, and net income of $4.404 billion versus a $1.054 billion loss. For the first nine months, revenue was $27.083 billion and net loss was $413 million, compared with a $2.590 billion loss a year earlier. Third-quarter revenue included $7.560 billion from SI, $5.248 billion from Connectivity and $1.767 billion from Space.
Operating cash flow was $13.097 billion in the first nine months, alongside $48.069 billion of capital expenditures; cash and cash equivalents were $51.294 billion at September 30, 2026. Backlog was $62.959 billion at September 30, with approximately 67% expected to be recognized within one year and approximately 27% between one and three years. SPCX completed its Cursor merger on August 14, 2026, with total aggregate purchase consideration of $42.474 billion; Cursor contributed $608 million of revenue from closing through September 30. Customer B accounted for 34.5% of third-quarter consolidated revenue.
Space Exploration Technologies Corp. (SPCX) reported third-quarter 2026 revenue of $14.6 billion, up 161% year over year, and net income of $4.4 billion, versus a $1.1 billion net loss a year earlier. Adjusted EBITDA was $8.8 billion, up 306%.
Connectivity revenue was $5.2 billion, up 69%, and segment operating income was $2.4 billion, up 99%. Super Intelligence (SI) revenue was $7.6 billion, compared with $813 million; SI operating income was $431 million, versus a $1.7 billion loss a year earlier. SI nameplate compute reached 1.7 GW as of September 30, 2026.
For the first nine months, operating cash flow was $13.1 billion and capital expenditures were $48.1 billion. Cursor, acquired August 14, 2026, contributed $608 million in revenue through September 30; GAAP purchase consideration was $42.5 billion, with $23.4 billion of post-acquisition service equity awards subject to future forfeitures. A separate agreement covers a nationwide portfolio of up to 14 megahertz of paired 800 MHz spectrum and is expected to close in the first half of 2027, subject to regulatory and other customary closing conditions.
Antonio J. Gracias reported disposition transactions in this Form 4 filing. Space Exploration Technologies Corp. director Antonio J. Gracias reported that the Valor Entities made an in-kind distribution of 42,790,223 Class A common shares on September 11, 2026, without consideration, under a Rule 10b5-1 pre-set in-kind distribution plan adopted on June 12, 2026. The amendment says the distribution did not change Gracias’s pecuniary interest and adds continued-ownership positions omitted from the original report: 1,040,862 shares directly held by Gracias and his children, 1,170,344 shares held by AJG Growth Fund LLC, and 2,078,622 shares held by Gracias 2009 Family Trust. Separately, the Valor Entities reported 460,624,307 shares held of record after the distribution; Gracias disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.
SPACE EXPLORATION TECHNOLOGIES CORP (SPCX) President and COO Gwynne Shotwell exercised options for 138,900, 74,405 and 128,865 Class A shares at $8.3998, $11.2000 and $19.4000 per share, respectively, on September 22, 2026, and sold 342,170 shares that day. The September transactions were made under a Rule 10b5-1 trading plan adopted June 23, 2026.
On April 18, 2026, Shotwell exercised options to acquire 138,900 shares at $8.3998 and 74,410 shares at $11.2000. As of that date, indirect holdings were listed as 1,556,005 shares in QM RS 2021 Exempt Trust and 1,556,055 shares in QM GS 2021 Exempt Trust.
SPACE EXPLORATION TECHNOLOGIES CORP (SPCX) received a notice under Rule 144 that company officer Gwynne Shotwell may sell 342,170 shares of common stock. The shares are associated with a cash exercise of stock options and are slated for potential sale on September 22, 2026 through Morgan Stanley Smith Barney LLC on NASDAQ.
SPACE EXPLORATION TECHNOLOGIES CORP (symbol: SPCX) is the issuer of record for a Form 4 filing submitted to the SEC. Gracias Antonio J. reported disposition transactions in this Form 4 filing.
SPACE EXPLORATION TECHNOLOGIES CORP (SPCX) director Antonio J. Gracias reported an indirect restructuring transaction involving 42,790,223 shares of Class A Common Stock on September 11, 2026. These shares were distributed pro rata in kind, without consideration, by multiple Valor-managed entities under a Rule 10b5-1 preset in-kind distribution plan adopted on June 12, 2026. After this, entities associated with him held 460,624,307 indirect shares, and he also reported 29,423 shares held directly that he received as pro rata in-kind distributions from non‑affiliated third parties between August 5 and September 9, 2026, under a Rule 16a-9 exemption. He disclaims beneficial ownership of the Valor entities’ shares except to the extent of his pecuniary interest.
Space Exploration Technologies Corp. has disclosed that a group of investment entities associated with Founders Fund and Peter Thiel collectively beneficially owned 427,306,025 shares of its Class A common stock as of June 30, 2026. This stake represents 5.5% of the outstanding Class A shares, based on 7,696,293,669 shares outstanding as of July 28, 2026.
The holdings are spread across multiple Delaware limited partnerships and LLCs, including various Founders Fund vehicles, Lembas II, 2025-005 Investments LLC, I’ll Be Seeing You LLC, and Barrel Vault LLC. Peter Thiel is reported to have 17,446,745 shares under sole voting and dispositive power and 409,859,280 shares under shared voting and dispositive power through his roles with these entities. The reporting persons note they are under common control but expressly disclaim being a “group” for Section 13 purposes.
Alphabet Inc., XXVI Holdings Inc., and Google LLC report beneficial ownership of Class A common stock of Space Exploration Technologies Corp. Alphabet, through its subsidiary structure, is associated with 551,189,500 shares held directly by Google LLC. Based on 7,696,293,669 Class A shares outstanding as of July 28, 2026, this represents 7.2% of the class. The reporting entities have shared voting and dispositive power over these shares and no sole voting or dispositive power.
Space Exploration Technologies Corp. completed the previously announced all-stock acquisition of Anysphere, Inc. (Cursor) via a merger of its wholly owned subsidiary X67 Inc. into Cursor, which now operates as a wholly owned subsidiary.
At the August 14, 2026 effective time, outstanding Cursor common and preferred shares were converted into the right to receive an aggregate of 389,289,254 shares of SpaceX Class A common stock, based on an implied Cursor equity value of $60.0 billion and a price per SpaceX share equal to the volume-weighted average closing price over the seven trading days before closing. Vested Cursor restricted stock units were converted into the right to receive an aggregate of 1,752,426 additional Class A shares before tax withholdings. Unvested Cursor RSUs and options were assumed and converted into approximately 29,128,326 SpaceX RSUs and approximately 44,365,047 stock options. The share issuance was conducted as an unregistered offering relying on Section 4(a)(2) of the Securities Act as a transaction not involving any public offering.