SpaceX, Elon Musk’s rocket and satellite-internet company, reported third-quarter earnings on Tuesday, and its shares jumped the next day.

Artificial intelligence drove much of the growth. SpaceX’s AI business, called “Super Intelligence,” sells computing power to other companies and is now its largest source of revenue, ahead of Starlink, its satellite-internet service with about 13.6 million customers.

Rockets were part of the story, too. Last month, Starship Flight 14 became the first Starship mission to earn money, carrying 26 Starlink satellites into orbit. On Flight 15, expected in about a month, SpaceX will try to catch both the booster and, for the first time, the upper stage as they return to the launch tower.

SpaceX also set ambitious goals. It plans to launch Starlink Mobile, a satellite phone service meant to compete with carriers such as Verizon and AT&T, in early 2028. Musk also said yearly revenue could reach $500 billion to $1 trillion by the end of 2027, though he offered that as his own estimate, not official guidance.

• Revenue rose 161% from a year earlier to $14.6 billion, and net income was $4.4 billion, compared with a $1.1 billion loss a year ago.

• The Super Intelligence business brought in +$7.6 billion in revenue, more than nine times what it made a year earlier.

• SpaceX expects first-quarter 2027 revenue of $33 billion to $37 billion, more than double this quarter’s total.

The biggest question is what comes next. SpaceX and Tesla have each formed special committees of independent directors to explore combining the two companies. Because Musk leads both, he has a conflict of interest and is excluded from those talks. “It is an odd kabuki dance where two groups of people are talking and I cannot be in the conversation,” he said. Musk called a merger a good idea but said it is not “a certainty.”

OKTA (+13.9%): Okta, which makes login and security software that controls who can access a company’s apps and data, climbed as more businesses looked for ways to protect the AI agents now working inside their systems.

EFX (+13.2%): Equifax gained after its third-quarter revenue grew nearly +10%, led by a +15% jump in U.S. mortgage revenue.

NET (+9.9%): Cloudflare rose after it quickly rolled out protections for all its customers against a major security flaw in PHP, software used by about 70% of websites.

GM (-9.6%): General Motors fell after it narrowed its full-year profit forecast and warned of higher costs for materials, shipping and warranty repairs, even though its quarterly results beat expectations.

META (-9.4%): Meta declined after it raised its forecast for AI data center spending and announced a new class of non-voting shares that could help Mark Zuckerberg pay California’s proposed billionaire tax without giving up control of the company.

TMUS (-7.9%): T-Mobile fell about after a report that SpaceX is looking to use about 80,000 U.S. cell sites, a sign it could become a serious wireless competitor.

After a 13-year wait, Grand Theft Auto VI arrives on Nov. 19, and fans are already lining up. Pre-orders opened on June 25. By Oct. 20, fans had pre-ordered about 6.5 million copies and spent roughly $630 million, according to estimates from research firm Sensor Tower. That works out to be about $98 a copy, which suggests most buyers are choosing the $99.99 Ultimate Edition over the $79.99 standard version.

GTA VI has a lot to live up to. As the chart shows, GTA V sold about 33 million copies in its launch year and has kept selling roughly 13 million to 21 million copies every year since, more than 230 million in all. Research firm DFC Intelligence projects GTA VI will sell about 40 million copies in its first year, topping GTA V’s launch-year total, with about one in six of those sales already locked in through pre-orders. With the game on the way, publisher Take-Two expects about $8 billion in revenue this fiscal year, up from $6.7 billion last year.