SpaceX's Q3 Seen Lifted by Starship Progress, AI Compute Growth, UBS Says

12:50 PM EDT, 09/29/2026 (MT Newswires) -- Space Exploration Technologies (SPCX) is set for a strong Q3 on Starship launches, expanding cloud-compute contracts and rising adoption of its AI products, UBS Securities said Tuesday in a report. UBS expects Q3 revenue of $13.8 billion, above Wall Street's $12.9 billion estimate, with adjusted EBITDA of $7.5 billion versus the $6.9 billion consensus. The AI segment should contribute about $7.6 billion in revenue, helped by increased compute consumption from Anthropic and early contributions from Alphabet's (GOOG, GOOGL) Google, the report said. Grok continues to narrow the gap to frontier models, while Grok Bot is driving token demand, UBS said. SpaceX's Connectivity segment is projected to generate $4.9 billion in quarterly revenue, with subscribers rising to 2.3 million from 1.7 million in the prior quarter, the report said. UBS maintained its buy rating on SpaceX stock with a $210 price target. Q3 results are expected in early November. Price: 148.77, Change: +3.30, Percent Change: +2.27