SpaceX Q3 Earnings LIVE Updates Today Oct. 20: Elon Musk To Announce Tesla-SpaceX Merger?

Tesla's $25 Billion Spending Plan Raises Questions Over Cash Flow

Tesla’s aggressive investment plans are raising concerns about its financial flexibility as the company expands into autonomous driving, robotics and artificial intelligence. The automaker expects capital spending to exceed $25 billion this year. Its second-quarter results included negative free cash flow of $1.1 billion, marking its first move into negative territory in more than two years.

Analysts also expect another negative free cash flow reading for the third quarter. Investors will examine whether Tesla can finance its ambitious technology projects while protecting profitability and supporting its existing automotive operations.

Tesla Q3 Earnings: Profit Forecast Falls as Robotaxi Ambitions Dominate

Tesla faces pressure to demonstrate stronger profitability as investors prepare for its third-quarter earnings report. Analysts expect adjusted earnings per share of approximately 43 to 45 cents, while revenue forecasts stand near $27.9 billion.

The figures point to weaker earnings than a year earlier, despite the company’s stronger vehicle deliveries. Tesla delivered 486,532 vehicles during the quarter, beating analysts’ estimates. However, Wall Street increasingly values the company’s robotaxi ambitions and Optimus humanoid robots as potential high-margin businesses that could eventually overshadow conventional vehicle sales.

SpaceX AI Spending in Focus as Evercore Sees $104 Billion Revenue Run Rate

Evercore ISI expects SpaceX to exit 2026 with an annualized revenue run rate of approximately $104 billion, with artificial intelligence expected to drive much of the expansion.

The investment bank sees AI doing “most of the heavy lifting” as Elon Musk pushes into compute-intensive businesses. Evercore also estimates that SpaceX’s capital spending could reach approximately $151 billion in 2027. Those projections highlight the scale of investment required to pursue orbital data centers and other AI infrastructure ambitions. Investors will assess the company’s latest earnings for evidence that spending can translate into sustainable revenue.

SpaceX Earnings Forecast: Revenue Seen Reaching $12.74 Billion in Q3

SpaceX is expected to report third-quarter revenue of approximately $12.74 billion and earnings of 14 cents per share, according to LSEG data cited in the supplied report. The forecast comes as investors assess the company’s rapid expansion across satellite connectivity, rocket launches and artificial intelligence.

In the second quarter, SpaceX generated $7.8 billion in revenue but recorded a net loss of $541 million. Its AI capital spending reached $15.8 billion during that period. The upcoming results will help investors evaluate whether growing revenue can support the company’s substantial technology investments.

SpaceX Q3 Earnings: Starlink Revenue Growth Emerges as Key Investor Focus

SpaceX investors are expected to scrutinize Starlink’s revenue growth as the company prepares to report its third-quarter results. Connectivity revenue, including Starlink, climbed 66% to $4.3 billion in the second quarter, highlighting the business’s growing importance.

Now, investors should also assessing whether satellite connectivity can support SpaceX’s expanding ambitions in mobile communications and artificial intelligence. Shawn Campbell of Camelthorn Investments said Starlink revenue growth would be more important than launch counts when evaluating the results. SpaceX’s latest earnings could provide fresh insight into its growth trajectory and investment priorities.

Musk's SpaceX-Tesla Merger Vision: AI Chips, Robots and Orbital Data Centers

Artificial intelligence is emerging as a central argument behind speculation over a potential SpaceX-Tesla merger. The companies could combine satellite infrastructure, advanced computing, semiconductor production and autonomous technology under one corporate structure. Ark Invest believes Tesla’s robotaxi network could help finance SpaceX’s orbital data center ambitions.

Meanwhile, SpaceX’s frontier AI models could support Optimus deployments. Musk has also highlighted growing collaboration through Terafab, the proposed semiconductor manufacturing project. “That’s really going to be a gigantic project,” he said, pointing to the companies’ expanding technological overlap.

Tesla-SpaceX Merger: RBC Says $480 Offer Could Give Tesla Investors 48% Stake

RBC Capital Markets analyst Tom Narayan has outlined a potential valuation framework for a SpaceX-Tesla merger, estimating that a $480 offer for Tesla shares would give its investors a 48% stake in the combined company.

The proposed price represents a 30% premium to Tesla’s Monday closing price of $368.06. Narayan described the transaction as a “compelling strategic and financial proposition,” according to a research note. The analysis offers investors a glimpse into possible deal economics as speculation intensifies, although no formal merger proposal has been announced.

Ark Invest Projects $3.8 Trillion Revenue for Combined SpaceX-Tesla by 2031

Cathie Wood’s Ark Invest sees enormous financial potential in a possible SpaceX-Tesla combination, projecting $3.8 trillion in sales and $2.7 trillion in operating profits by 2031. SpaceX could contribute approximately 62% of combined revenue and 69% of operating profits, according to the firm’s estimates.

The projections significantly exceed current Wall Street expectations for both businesses. Ark noted that Tesla’s robotaxi network could help finance SpaceX’s orbital data center ambitions, while SpaceX’s AI capabilities could support Tesla’s Optimus humanoid robots. Neither company has confirmed a merger.

SpaceX-Tesla Merger: Barclays Sees Deal Announcement Before December 3

Barclays analyst Dan Levy believes Tesla and SpaceX could announce a merger before Tesla’s December 3 annual shareholder meeting. An October or November announcement would give investors time to evaluate the proposal before voting, according to his research note.

Barclays’ Dan Levy says $TSLA and $SPCX could announce a merger before the December 6 annual meeting deadline.

The logic is that Musk’s ambitions across AI, robotics, chips and satellite connectivity are increasingly converging making a merger make a ton of sense. pic.twitter.com/Cy4WtxOKr1

— Shay Boloor (@StockSavvyShay) October 14, 2026

SpaceX is considered the likelier acquirer, although neither company has officially committed to pursuing a transaction. The timing has attracted attention as both companies prepare to report quarterly results. Investors are now watching whether the earnings announcements provide fresh clues about Elon Musk’s intentions regarding a potential combination. Read More.

Tesla-SpaceX Merger Odds Hit 80% As Dan Ives Predicts Deal by 2027

Speculation over a potential SpaceX-Tesla merger is intensifying, with Wedbush Securities analyst Dan Ives predicting an 80% chance of a deal by the end of 2027. Ives cited strategic synergies across artificial intelligence and data infrastructure as key reasons for a potential combination.

“We believe there is an 80% chance that Tesla and SpaceX merge by the end of 2027 for a number of strategic AI/data driven reasons,” he said. Elon Musk has yet to confirm any merger plans, leaving investors watching key updates closely.