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SpaceX disclosed in a quarterly SEC filing that its ownership stake in Elon Musk's Boring Co. generated a $561 million investment gain in the third quarter, making up more than half of SpaceX's other income for the period. The gain helped push SpaceX's net income to just over $4 billion. The filing also showed SpaceX spent $151 million on Tesla Megapack energy storage systems during the quarter.
Following OpenAI's September 3 release of GPT-6 Astra, Nvidia CEO Jensen Huang posted on X that 'AGI has arrived,' while also touting 400,000 GPUs coming online. OpenAI itself has not used the term AGI for Astra, instead describing it as an 'operator' system that browses, codes and runs multi-step tasks, citing strong scores on benchmarks like FrontierMath Tier 4 and ARC-AGI-3. An AI engineer writing for Entrepreneur notes that Astra and rival Claude Fable 5.1 post near-identical benchmark scores yet behave very differently in practice, a gap attributed to the surrounding 'harness' rather than the underlying model.
Elon Musk has committed about $366 million to the 2026 election cycle across more than 40 races, with at least $276 million flowing to Republican groups and his America PAC since July, according to CNBC's analysis of FEC filings. Meanwhile SpaceX has secured $6.78 billion in federal contracts through October 1, nearly double its 2024 total, per research firm FedScout, as Tesla, SpaceX and Musk's AI ventures face pending government decisions on defense spending, launch licenses, spectrum, autonomous vehicles and data centers.
Elon Musk said on SpaceX's latest earnings call that there is
Ukrainian officials say SpaceX abruptly throttled speeds on its Starshield service, disrupting internet connectivity for drones and aircraft moving faster than 100 mph. A senior Ukrainian commander told The New York Times the restrictions cost his unit over $1 million and delayed missions by three days, while reports differ on whether Elon Musk or the Trump administration ordered the change.
Days after demonstrating a Tesla Roadster fitted with SpaceX cold-gas thrusters, Elon Musk announced on SpaceX's third-quarter earnings call that the boards of Tesla and SpaceX are forming special committees to explore merging the two companies. Musk cited 'synergies' between the firms as the rationale.
Ukraine's armed forces are using a basic version of SpaceX's Starshield service, which runs on Starlink's standard hardware but includes different features tailored for military use. The system supports communications and coordination across Ukrainian military operations.
The Nasdaq Composite recovered most of Friday's losses after positive developments tied to SpaceX, Anthropic and Nvidia boosted sentiment across AI-related technology stocks. The gains spanned multiple parts of the so-called AI supply chain, from chipmakers to AI software firms and related ventures.
The Wall Street Journal reported that Elon Musk, not the US military or President Trump, made the call to throttle Starshield's military-grade Starlink service used by Ukraine. The cap limited connectivity for hardware moving faster than 160 kph, degrading the performance of Ukrainian offensive and interceptor drones. Both Musk and Trump have denied Trump ordered the restriction, which followed public criticism from both men over Ukrainian strikes on Russian refineries.
US District Judge Debra Brown ruled that the Clean Air Act gives the EPA no authority to unilaterally dismiss citizen lawsuits, rejecting an attempt by the Trump administration to intervene on behalf of Musk's SpaceXAI. The NAACP's suit, filed after unpermitted gas turbines were found powering the Colossus data center in Memphis, seeks an injunction requiring pollution controls and penalties of up to $124,426 per day per violation.
SpaceX's third-quarter earnings exceeded Wall Street expectations, producing an unexpected profit that analysts described as a blowout result. Elon Musk responded by declaring that a previously stated ambitious goal is now within reach, without detailing specific figures or timelines in the reporting.
SpaceX executives said on an earnings call that the company plans to attempt catching both the Super Heavy booster and Starship upper stage at the Starbase tower during the rocket's 15th test flight, targeted for November. Elon Musk said data from Flight 14 gives SpaceX confidence to try the dual catch, while president Gwynne Shotwell said the FAA license is expected to permit return-to-launch-site landings over land, including northern Mexico.