SpaceX’s AI Unit Outsold Starlink
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21 OCTOBER 2026
By Mike Leesponsored Elon's Fourth Window |
Jeff Brown is the former tech executive who called the rise of Bitcoin, Tesla, and Nvidia years in advance. He's now predicting Elon Musk is about to open a new wealth window by October 30. Click here to see the details or read more below because the last three times this window opened, those who acted had a chance to walk away with generational wealth. This Cybercab you see in this footage is taking me to Elon Musk's new project… Which he called "the most epic AI project in history." This is so big that I believe it will open a brand-new "generational wealth window…" And whenever Elon opens one of those windows, people get rich. He opened his first wealth window in the late 1990s… With PayPal and its innovative digital payment technology. An early investor was able to turn a tiny stake of $1,600 into $3.8 million… Elon opened his second window with Tesla and its self-driving electric cars… Anyone who invested just $5,000 at the IPO… Would be sitting on more than $1.1 million today. He opened his third window with SpaceX and its revolutionary reusable rockets… Which gave early investors a chance to turn a single $100 bill into more than $6 million. And now, I believe he's about to open his fourth and perhaps last wealth window by the end of this month. Because it all begins with this project that I'm about to show you. We have so much to look forward to, Jeff Brown Founder & CEO, Brownstone Research |
Three Numbers to Start
$7.56B | SpaceX’s AI revenue in the third quarter, nearly three times the second quarter’s and more than Starlink brought in. |
$28.1B | the third-quarter revenue analysts expect from Tesla tonight, flat on a year earlier. |
15.7% | the return of Societe Generale’s index of trend-following funds from January to September, against 11.7% for the S&P 500. |
ad And now, I believe he's about to open his fourth and perhaps last wealth window by the end of this month. See the Details |
SpaceX’s AI Unit Outsold Starlink
SpaceX reported third-quarter revenue of $14.6 billion after the close on Tuesday, up 161% on a year earlier and well above the $12.86 billion analysts expected. Its AI business, which SpaceX calls Super Intelligence, brought in $7.56 billion, up from $2.56 billion in the second quarter. Connectivity, mostly Starlink, brought in $5.25 billion, up 69%, and the launch business $1.77 billion, up 6%. Analysts had expected $6.47 billion from AI and $4.92 billion from connectivity.
The company swung to an operating profit of $2.79 billion, from a $143 million operating loss in the second quarter, and earned $4.4 million after everything else. It spent $19.6 billion on capital projects in the quarter, and analysts surveyed by Visible Alpha expect annual spending to climb from about $70 billion this year to $197.4 billion in 2028. Starlink added 1.6 million consumer subscribers, fewer than the 2.29 million analysts had forecast.
Elon Musk also said on X that SpaceX would give stock to every child in America. Fortune put the cost at about $10.5 billion, based on roughly 72 million Americans under 18.
Elon Musk also said on X that SpaceX would give stock to every child in America. Fortune put the cost at about $10.5 billion, based on roughly 72 million Americans under 18.
Tesla Reports Tonight
Tesla publishes third-quarter results after the close today and holds its call at 5:30 p.m. Eastern. Analysts expect revenue of about $28.1 billion, flat on a year earlier, and adjusted earnings of 45 cents a share, down 10%. Energy storage deployments came in at 13.7 gigawatt-hours, below the 15.9 the market expected. Margins are the number to watch: the car business earned a gross margin of 16.3% before regulatory credits in the second quarter, down from 19.2% in the first, and credit sales fell 67% to $146 million.
Shareholders sent 832 questions through Tesla’s platform, from about 2,860 people holding 3.85 million shares. The top-ranked question asks how the Cybercab fleet will scale beyond Austin and how Tesla will clear regulators outside Texas. Others ask when owners can buy a Cybercab and what a paid robotaxi mile costs against Tesla’s 30-cent target.
Jeff Brown starts his note with a ride in a Cybercab and says Musk is about to open a fourth wealth window by 30 October. The numbers arrive tonight. His project is at the top of this letter.
A Robot Fry Cook Has Passed 5 Million Baskets
Miso Robotics unveiled Flippy in 2017 as a robot arm that flipped burgers. Its Fry Station now fries and portions more than 40 menu items, and in April the trade magazine Fast Casual reported that it had cooked more than 5 million baskets in working kitchens. Chief executive Rich Hull told Fortune in February that a Flippy arm costs 80% less to build than five years ago, when it cost about $80,000.
Labour is the cost the robot replaces. Black Box Intelligence puts the cost of replacing one hourly restaurant worker at more than $2,700, and Hull says short-order cooks are among the hardest to keep. Fortune cited an FNF Research forecast that restaurant automation will be a $28 billion market this year. In 2019 Flippy Fry Stations at Dodger Stadium and Chase Field fried 31,000 pounds of chicken tenders and Tater Tots, and in April Miso shipped its first Fry Station to an NBA arena. This year it also bought Zignyl, a restaurant operations app it renamed Zippy, and technology from Zume Pizza.
Miso is raising money from individual investors under Regulation A. Its offer, with the link to the offering circular, is below.
sponsored The Fry-Station Robot |
8,000X Oversubscription Could Reset Robotics Stocks Robotics stocks are having a pivotal moment. And one of those stocks resets its price in days. A recent robotics IPO was oversubscribed 8,000X, and nuts and bolts flew in celebration. Experts say this frenzy is reshaping how investors view robotics stocks — including Miso. Everyday investors have been paying close attention to where this is heading. a private-stage company named Miso Robotics. Miso's Flippy robot works the fry station and was already boosting profits up to 4x for restaurant brands like White Castle. That led industry powerhouse Ecolab to invest in Miso’s growth and NVIDIA to collaborate.  Now, after Miso made two major asset acquisitions in 2026, Flippy is the star of Miso’s expanding ecosystem. Customers think of it as the new operating system for modern restaurants. This year alone, Miso added big-name customers like Jersey Mike’s and Cinnabon, and grew their patent portfolio by ~10X to over 300. Their robots have even expanded beyond restaurants, entering college campuses and NBA arenas. 44,000+ people already claimed their stake — before an 8,000X-oversubscribed IPO put a spotlight on the whole sector. That spotlight is putting the whole sector in focus. Miso Robotics is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: invest.misorobotics.com/ |
Trend-Following Funds Beat the S&P 500 Through September
Societe Generale’s CTA Index, which tracks funds that trade futures by following price trends, returned 15.7% from January to September, against 11.7% for the S&P 500. The managers made money shorting Treasuries before the September bond sell-off, holding crude oil from January and backing the dollar. “CTAs are crushing the rest of the hedge fund world this year,” said Andrew Beer of Dynamic Beta Investments. Bridgewater’s Pure Alpha fund gained 18.4% over the same nine months. Nicolas Gaussel of Metori Capital pointed to a shift underneath: stocks and bonds now move together, and energy moves against both.
The same machines can lose fast. In the first two weeks of January, US-focused quant funds fell about 2.8%, UBS estimated, as crowded trades unwound and low-quality stocks rallied against their short books. The trend-following index added more than 4% in the first part of October.
Brian Jackson spent nearly 20 years advising wealthy investors before he reviewed a set of 12 trading algorithms and joined the company behind them. His session, with the risks he checks first, is below.
sponsored Twelve Algorithms |
He knew what to question. Then he started digging. After nearly 20 years advising wealthy investors, Brian Jackson had evaluated almost every type of investment product Wall Street puts in front of its clients. Then he came across something he wanted to examine more closely: A set of 12 trading algorithms — and performance figures spanning COVID, rising interest rates, and changing administrations. He says he spent months reviewing the trade files, risk metrics, and drawdowns. Eventually, the former Wells Fargo SVP of Investments joined the company behind them. What did he find that made him take that step? On Tuesday, Brian will walk through what he examined, the risks investors should understand, and the questions he asks before taking an algorithmic strategy seriously. You can ask him your own questions, too. |
What Is Scheduled
21 Oct | Tesla reports third-quarter results after the close. |
28 Oct | the Fed’s rate decision. |
3 Nov | the midterm elections. |
ad Because it all begins with this project that I'm about to show you. See the Details |
Seven Point Five Six Billion
$7.56B | SpaceX’s AI revenue last quarter, more than Starlink brought in. Jeff Brown’s note at the top says Musk’s next window opens by 30 October. |
Forget the hot picks — read the quarterly numbers before you buy the story. Because the best trade you’ll ever make is the loss you never took. Mike LeeDeals CatchersThanks for reading. See you tomorrow. |
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