Elon Musk's SpaceX reports profit as AI and satellite businesses booms

Booming Business

SpaceX is poised to get more than 700 acres of wildlife refuge as part of a land swap in Texas. Getty Images

SpaceX reported a bigger quarterly profit than expected on Tuesday, October 20, as its satellite communications and artificial intelligence businesses boomed.

The company, run by Elon Musk, posted a profit for the three months through September 2026 of $4.4 billion, or 35 cents per share, reversing a year-ago loss and easily topping Wall Street's expectations. Revenue soared to $14.6 billion, up 161%.

On a conference call with analysts, Musk suggested a merger with his electric car company Tesla might be in the works, something that has been rumored for months. He said both companies formed “special committees” of independent directors to discuss the issue, though he played down the chances of an imminent deal.

“Some people out there assume that a SpaceX and Tesla merger is a certainty,” he said. “I think that would be overstating it.”

The AI business became SpaceX's largest by revenue in the third quarter, although the Starlink satellite service remains the biggest profit generator.

“They beat across all metrics and the Starlink business looks to be accelerating,” said Dan Ives, an analyst at Yorkville Ives. “This is just what (Wall) Street wanted.”

The stock rose 7.5% in after-hours trading.

Musk also told analysts that for next month's launch of its Starship rocket, SpaceX will attempt to grab both the booster and ship with mechanical arms upon return to base, a key step toward demonstrating it can reuse the massive spacecraft.

“The only way that we can extend consciousness beyond Earth on a sustained basis is with a fully reusable orbital launch vehicle,” Musk said, calling the attempt, if successful, “a massive technology milestone.”

SpaceX hopes to get Starship on a regular launch pattern in preparation for NASA's upcoming lunar missions.

The company already has huge contracts with the federal government, and House Democrats have called for investigations into those contracts and Musk’s work with the Department of Government Efficiency. Musk has spent $276 million since July in support of Republican candidates.

In a filing for its initial public offering in June, SpaceX warned that a change in control of Congress could have a “material and adverse impact on our growth and competitive position.”

Musk recently drew criticism from politicians in Washington after speeds for a military version of SpaceX's satellite communications service were slowed for Ukraine following President Donald Trump's deal to get more diesel oil from Russia amid a push to end the war. The Wall Street Journal reported Tuesday that it was Musk who ordered the slowdown, impeding Ukraine’s use of drones along the front. SpaceX did not immediately respond to an Associated Press request for comment on the Journal story.

Both Trump and Musk have denied responsibility for the slowdown.

As midterm elections near, Musk on Monday promised to give one share of SpaceX to “every kid in America” next year, though he provided no details on how the distribution would be carried out. With communities nationwide protesting the construction of large data centers and concerns about AI safety, AI companies are trying to build goodwill. Anthropic pledged to commit 5% of its shares to a new “public benefit” fund.

SpaceX shares have been under pressure over concerns that the company was spending too much on major projects to compete with rivals such as Anthropic. The company said capital expenditures totaled $19.6 billion last quarter, nearly triple the figure from a year earlier, and it forecast spending would grow to $35 billion to $40 billion in the current quarter.

Shares of SpaceX closed Tuesday at $147.79, down from a peak near $201 after its IPO, which made Musk the world’s first trillionaire at the time. But the share prices for SpaceX and Tesla have since dropped, reducing his net worth to $925 billion, according to Forbes magazine.

Tesla reports third-quarter financial results Wednesday. Last week, Tesla unveiled a new Roadster sports car that in some versions may include thrusters allowing it to briefly fly using SpaceX technology — though experts say anything usable for drivers is a long shot.

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SpaceX Starship Flight 14 launched September 28 from Boca Chica Beach, Texas. Photo by Brandon Bell/Getty Images

SpaceX's supersized Starship rocket launches into orbit for first time

Out in Space

SpaceX launched its enormous Starship into orbit for the first time Monday, September 28, and successfully delivered the most advanced Starlink satellites yet, but cut the flight short to ensure safety.

The spacecraft reentered over the Pacific and splashed down north of Hawaii three hours after blasting off from Texas. The company had been aiming for a 10-hour flight, spanning six full laps around Earth, to prove its readiness for NASA’s Artemis moon program.

Starship tipped over and erupted in flames upon splashdown, a dramatic end to the mission.

Elon Musk's Starship almost didn't make it to orbit when one of its engines shut down prematurely. But with everything else working well and the bad engine no longer needed, flight controllers decided, after several tense minutes, to proceed as planned.

“Starship is orbital,” Mission Control announced to cheers.

NASA Administrator Jared Isaacman congratulated SpaceX on reaching orbit and “managing every step in a safe, responsible and especially inspirational way.”

Rocket carries 26 of Musk's most advanced Starlink satellites

Musk’s showpiece rocket — the biggest and most powerful ever built — carried 26 of the latest Starlinks to join the 11,000 older models already providing internet service. They popped out of the spacecraft one by one, drawing more cheers from the SpaceX crowd at the Starbase launch site.

The decision to end the flight early came soon afterward. SpaceX said hours later in an online update that the decision was made “out of an abundance of caution” because of the early engine trouble.

It was Starship’s 14th full-scale launch from Texas’ southern tip in three years. Earlier test flights ventured no farther than the Indian Ocean halfway around the world, often crashing in flames and briefly skimming space.

This time, the intent was for SpaceX to circle the globe from an altitude of 170 miles (275 kilometers) — not just once but six times over almost 10 hours, ending with a Pacific splashdown near Chile. While Starship achieved the proper orbit, zipping along at 17,500 mph (28,000 kph), flight controllers opted to play it safe and bring it back several hours sooner, after just a couple of laps.

The first-stage booster was never meant to return to the Starbase launch site either, dropping instead into the Gulf of Mexico within minutes of the morning liftoff.

SpaceX wants to ensure that everything works before flying Starship back to Starbase. If the spacecraft breaks apart over land and rains debris onto people, “our popularity would diminish very rapidly,” Musk said at a business summit earlier this month. “That’s why we’re being extremely cautious here.”

Depending on the findings from Monday's orbital debut, the next Starship could return to the launch pad, where giant mechanical arms would grab the hovering spacecraft. If the catch works — Musk gives it even or slightly better odds — then SpaceX will refly the spacecraft by year’s end or early next year.

The 407-foot (124-meter) rocket was designed from the start to be fully reusable, a key to lowering launch costs. SpaceX managed to salvage the last Starship from the Indian Ocean in July. Engineers modified the newly launched Starship’s heat shield based on hands-on inspections of the recovered spacecraft, which is being tugged back to Starbase.

SpaceX wants Starship to be certified for orbital flight

SpaceX is pressing hard to certify Starship for orbital flight, a vital step toward moon and Mars travel.

NASA’s Artemis III mission is coming up as soon as next summer, a triple-launch docking exercise in orbit around Earth between an Orion capsule full of astronauts and competing lunar landers. Jeff Bezos’ Blue Moon would blast off first, followed by Orion — which would close in for a linkup — and then Musk’s Starship for a docking with Orion once Blue Moon is unleashed.

The next mission, Artemis IV, is slated for no sooner than 2028 and would have astronauts landing on the moon in either Blue Moon or Starship, whichever is ready first. Subsequent moonshots will alternate between the two billionaires’ landers.

Musk originally developed Starship for Mars, intending to launch scores of them with the red planet’s first settlers. For now, he plans to focus on the moon and use Starship to haul satellites into orbit by the truckload, phasing out the company’s frailer Falcon 9 rocket within several years. A second Starship launch site is nearing completion at Florida’s Kennedy Space Center and a third is planned for Louisiana.

SpaceX is poised to get more than 700 acres of wildlife refuge as part of a land swap in Texas. Getty Images

SpaceX to get more than 700 acres of Texas wildlife refuge in land swap

Space News

A federal judge on Monday, September 21, refused to block the Trump administration from giving SpaceX more than 700 acres of wildlife refuge as part of a land swap in Texas, while environmental groups vowed to continue their legal challenge.

U.S. District Judge Fernando Rodriguez Jr. declined the plaintiffs' request for a preliminary injunction to prevent the parcel exchange, saying they failed to prove it would worsen ecological risks to a Gulf Coast region already transformed by billionaire Elon Musk’s rocket operations.

In June, the U.S. Fish and Wildlife Service approved moving forward with the deal with SpaceX, which would surrender 683 acres the company owns in exchange for the federal land in the Lower Rio Grande Valley National Wildlife Refuge. The 103,000-acre refuge spans four counties along the Texas border and is home to animal habitats and historical landmarks.

Maps show the land SpaceX would acquire would be closer to the company's launchpad near the U.S.-Mexico border.

The swap amounts to a gift of public lands to SpaceX, “clearing the way for bulldozers to tear into this wildlife refuge as soon as next week and turn a public treasure into a private payday,” said Laiken Jordahl, a spokesperson with the Center for Biological Diversity, which filed the lawsuit alongside other opponents including tribal groups. Jordahl said Monday that the litigation will continue even as the exchange goes forward.

“This court order is not the final word. These lands hold incredible spiritual, historical and conservation value for the people and wildlife of South Texas. We won’t stop fighting to keep this irreplaceable public wildlife refuge safe from SpaceX bulldozers,” Jordahl said in a statement.

The lawsuit asks the federal court to halt the exchange, which has worried SpaceX opponents in the area who have long criticized the company's expanding footprint over lost access to beaches and concerns over exploding rockets.

The Fish and Wildlife Service didn’t respond to a request for comment on Monday’s decision. Previously, a spokesperson had said the agency does not comment on ongoing litigation.

The agency issued a final environmental assessment report in June that determined the exchange would cause no significant impact to the area. The report said the federal government believed the acquisition would represent a “net conservation benefit” and provide “substantial long-term conservation value and improving landscape-scale habitat connectivity across refuges in South Texas.”

The judge said that the plaintiffs offered “relatively weak” evidence of environmental harm.

“While they rightfully argue that the preservation of wildlife and historical lands furthers the public interest, they present no evidence demonstrating that the Property will suffer aesthetic, environmental, cultural, or historical degradation during the pendency of this lawsuit,” Rodriguez wrote in his ruling.

In addition, the judge said a preliminary injunction would result in modifications to SpaceX’s development plans, “placing additional hardship on the company’s ability to meet milestones and contractual obligations.”

SpaceX did not return an email seeking comment on the judge's ruling.

The space exploration company first broke ground in Texas more than a decade ago and has expanded rapidly, so much that SpaceX employees last year voted to incorporate their own local government called Starbase.

The Starship test flight released 20 advanced Starlinks. Photo via spacex.com

SpaceX launches Starship test flight with most advanced Starlinks to date

Out in Space

SpaceX’s mammoth Starship rocket blasted off Friday, July 24, on another test flight stretching halfway around the world, this time releasing 20 of the most advanced Starlinks.

Towering 407 feet, Starship soared from the company’s base at the southern tip of Texas. NASA monitored the space-skimming flight, a critical step toward using the Starship as a lunar lander for moon crews.

The hourlong journey ended with a splashdown so soft that the spacecraft remained afloat in the Indian Ocean as the SpaceX webcast drew to a close, drawing cheers from employees back at the launch site.

Elon Musk’s SpaceX had replaced six of the 33 engines on the first-stage booster after they failed to ignite earlier in July, resulting in a last-second launch abort. The previous Starship flight in May also experienced engine trouble, which prevented the booster from making a controlled return.

This time, all of the engines fired at liftoff, but not enough of them lit back up for the booster's return, causing it to descend too fast and slam into the Gulf of Mexico. The spacecraft continued soaring eastward, popping out the Starlinks one by one 124 miles up before reentering.

It was the 13th flight of the world’s biggest and most powerful rocket, and the second this year of the new version dubbed V3. Like the previous demo, neither the booster nor spacecraft was meant to be saved, instead plunging into the sea.

The stainless steel, retro-looking spacecraft hovered upright over the Indian Ocean before lowering into the water, more than 10,000 miles from where the flight began.

It was the best reentry yet, according to SpaceX, with the intact booster floating amid just a few flames. Previous flights ended with the spacecraft engulfed in flames and exploding at splashdown — or rupturing in midair.

“We're really pumped about this,” said SpaceX engineer Kate Tice, calling it “lucky flight 13.”

The Starlinks accomplished all their jobs before reentering over the Indian Ocean.

After being ejected from the Starship’s Pez-like dispenser, the Starlinks managed to communicate via lasers with older Starlink models already in orbit. With more than 10,000 Starlinks currently providing internet, SpaceX boasts the world’s largest satellite constellation.

Six of the newly launched Starlinks carried cameras that photographed Starship’s heat shield at flight's end, beaming back amazingly crisp shots even as the spacecraft bobbed in the ocean. The heat shield was also equipped with sensors to measure the extreme pressure placed on the spacecraft during launch. Most of the heat shield’s thermal tiles were black, but some were deliberately painted white to simulate missing tiles, part of an experiment to test the shield’s robustness.

"We got all the heat shield data we needed and then some!" Musk said on X.

NASA Administrator Jared Isaacman offered congratulations. “Excited for what will be learned from this mission,” Isaacman noted on X.

SpaceX wants to make sure Starship’s heat shield can withstand the heat of entry before trying to return it to the Starbase launch pad near the Texas-Mexico border. The company already has used a pair of giant mechanical arms at the pad to capture a Starship booster. The company plans to do the same with the actual spacecraft, which is designed to be totally reusable.

NASA needs Starship to wrap up testing and reach orbit soon so the Artemis III astronauts — three Americans and one Italian — can practice docking their capsule with it next year.

Starship is also the vehicle with which Musk intends to build a city on Mars. He's already booking tourist trips to Mars, as well as the moon.

The latest test flight was delayed first by the July 16 launch abort, then again July 23 by thick clouds from Tropical Storm Bertha.

With a SpaceX IPO, Musk could be the world's first trillionaire. Photo via Getty Images

Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

SpaceX is planning the biggest IPO in history. Getty Images

SpaceX IPO set to be biggest ever and could make Elon Musk a trillionaire

IPO News

SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire.

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.

Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.

Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in.

Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

Fantastical plans

Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale.

Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs."

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.

AI plays a key role

Key to the success of both companies — and any merged entity — is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition — putting data centers in space, which is not technologically possible at the moment.

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.

Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna.

Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT.

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.

The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week.

And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote.

___

Associated Press Technology Writer Matt O'Brien contributed.

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Houston ranks high on best cities for small-business expansion report

business growth

For small businesses looking to expand, Houston might be the right place.

Among 56 major U.S. metros, Houston grabbed the No. 6 spot on a new list of the metros boasting the strongest environments for small-business expansion.

A 2025 report from the state comptroller’s office showed roughly 970,000 small businesses operate in the 13-county Gulf Coast region. The region includes the majority of the Houston metro area.

“Whether it’s a family-owned shop on Main Street or a fast-growing startup, small businesses power our state’s economic engine, create opportunity, and strengthen the character of every Texas community,” Kelly Hancock, who was interim state comptroller when the report was released, said in a press release.

Business lending platform Clarify Capital analyzed five factors to develop the list: job growth, business entry and exit, net job creation, and unemployment.

Overall, the Nashville area claimed the No. 1 spot on the list. Other major Texas metros also cracked the top 10, including Austin at No. 3 and Dallas-Fort Worth at No. 7.

“The highest-ranking metros combine labor-market momentum with steady business formation and relatively favorable local employment conditions,” Clarity Capital says.

The Houston metro ranked sixth for job growth, 11th for business entry rate, 38th for business exit rate, second for net job creation rate, and 50th for unemployment rate.

“For business owners, the ranking is a starting point rather than a guarantee,” Clarify Capital says. “Local demand, competition, operating costs, and access to capital still shape whether an expansion works.”

“Building enough cash-flow room for hiring, equipment, and unexpected expenses can help small and midsize business owners take advantage of a strong market without stretching the business too thin,” the company adds.

Of course, money fuels small-business expansion in the Houston area or anywhere else.

According to an analysis of SBA loan data by feasibility consulting firm MMCG, the Houston metro area saw 1,685 approvals for 7(a) loans and 101 approvals of 504 loans in the federal government’s 2025 budget year. The approval numbers for both loan categories increased from the previous year.

Altogether, the 7(a) and 505 loans exceeded $1 billion.

The data from the U.S. Small Business Administration suggests small-business expansion may be on the rise in the Houston area.

Further potential evidence of small-business expansion in the Houston area: The region experienced a 92 percent rise in account applications from 2024 to 2025 submitted to Bluevine, a small-business banking platform. The Houston metro ranked fifth for the number of Bluevine small-business applications in 2025.

What to expect from the inaugural TiECon Texas event this week

where to be

Innovators and entrepreneurs will gather in Houston this week to show off their latest advancements in automation during the first-ever TiECon Texas conference at the Ion District.

“Automation is not simply changing how we work. It is redefining how value is created across every industry,” Somesh Singh, president of TiE Houston, said in a release. “Texas has the talent, the infrastructure, and the entrepreneurial spirit to lead this transformation. TiEcon Texas 2026 is where the people building that future will come together to shape it."

The Indus Entrepreneurs (TiE) started in Silicon Valley in 1994 as a two-day seminar, but has grown into a worldwide network of events celebrating technological advancement. TiECon in Houston is a merger of the TiE networks across Texas for one large-scale event taking place at the Ion on Wednesday, October 28, and Thursday, October 29. Tickets are available here.

The event includes a partnership with Hatch Pitch, a founder-first startup showcase that has raised over $20 billion in funding for new companies in the tech industry. Participants will come from industries like space exploration, healthcare, energy, and the AI sector to present their ideas in front of an investor network for possible development.

“Over 80 percent of the teams we have coached have gone on to receive funding,” Greg Wright, founder of Hatch Pitch, added in a release.

In addition, there will be forums and talks on a variety of automation subjects, everything from robotic surgery to automation in government. Educators from Baylor College of Medicine, UTHealth Houston, and the University of Houston plan to discuss the raising of children in a world with extensive artificial intelligence integrated into so many areas. Steven Kean, President and CEO of the Greater Houston Partnership, will give the keynote speech on the Bayou City’s place in these emerging technological spheres.

Singh highlighted how the large-scale disruptions in the technological status quo by the rise of AI could be a sign of potential growth and innovation. The entrepreneurs presenting at TiECon may be the ones to harness the sometimes unsteady AI industry for good causes.

“History shows that periods of technological disruption create extraordinary opportunities for those prepared to act,” he said. “TiEcon Texas is designed to help founders, investors, and enterprises understand where the automation economy is headed and how to participate in building it."

Here are the 10 startups pitching during the TiE Hatch Pitch competition:

Houston startup makes Time's list of the best inventions of 2026

Innovation Station

One of the year's most buzzworthy innovations comes from a Houston-based leader in the energy transition. Utility Global's H2Gen recently made Time magazine’s list of the 300 best inventions of 2026.

The H2Gen is an innovative system that produces low-cost clean hydrogen from water and industrial off-gases. The company says the process doesn’t require electricity, a notable claim since hydrogen production typically consumes a lot of power.

"Using a tubular electrochemical cell containing a proprietary electrolyte and water, the company can turn industrial off-gases into hydrogen at scale—no extra electricity required," writes Time. "Bonus: the process also pulls out carbon dioxide as a separate stream, where it can be captured and kept out of the atmosphere.

CEO Parker Meeks tells Time, it's “a practical pathway to decarbonize existing industrial assets."

The startup is on a roll. It has raised $100 million so far in an ongoing Series D round to offer its decarbonization technology at industrial scale around the world.

H2Gen is joined by 10 other inventions with Texas connections onTime's list, as well as one "special mention."

In North Texas, they are:

Samsung
Plano-based Samsung Electronics America pulled off a hat trick this year, with three products making Time’s list. First up is the Galaxy S26 Ultra smartphone. It packs a more powerful camera, Galaxy AI features, and pro-level content creation tools. But Time singled out its new built-in privacy display as the phone’s “biggest selling point.”

Samsung’s Bespoke AI Family Hub refrigerator also got smarter. When AI first came to the Family Hub in 2024, it could recognize some fresh foods, but you still had to log packaged items by hand, Time noted. Now, with Google Gemini built in, the fridge can identify more than 2,000 packaged foods, read handwritten labels, and warn you when food is about to expire. It then uses what’s inside to build grocery lists and suggest recipes.

And for gamers, there’s the Odyssey G8 monitor. Its 6K resolution leapfrogs the 4K standard, delivering what Samsung calls “exceptional visual clarity and detail” on a screen big enough for gaming and multitasking.

OxeFit
Plano-based OxeFit’s XS1 Peak is about the size of a treadmill but works like an entire gym. It can be set up for strength training, simulated skiing or kayaking, Pilates, or rowing. What makes it stand out is a built-in virtual spotter. According to Time, the machine “uses AI, computer vision and sensors to correct the user’s form, change resistance in the middle of a rep and reduce the weight when the user is struggling, much like a human spotter.”

EssilorLuxottica
EssilorLuxottica, the French eyewear giant whose U.S. headquarters is in Farmers Branch, makes Essilor Stellest lenses. The lenses correct nearsightedness while also slowing the eye growth that makes it worse over time. Stellest is the first and only eyeglass lens authorized by the U.S. Food and Drug Administration to control myopia, Time said. The lenses look like regular glasses but contain 1,021 tiny lenslets. In a U.S. trial of kids ages 6-12, myopia progression slowed by an average of 71 percent over two years compared with standard lenses.

Helpany
Helpany, a startup based in Phoenix that manufactures its devices in DFW, makes Paul, a ceiling-mounted gadget that uses radar and AI to spot subtle changes in how residents move and flag those at higher risk of falling. Helpany says the technology can cut falls by as much as 72 percent.

Aurora Innovation
Aurora, based in Pittsburgh with a corporate and operations hub in Coppell, rolled out its second-generation Driver 2 system in July. By September, Driver 2 trucks had logged more than 500,000 driverless miles without a single at-fault crash, Time reported, and the company expects 200 of them on the road by the end of 2026.

Colossal Biosciences
Dallas-based Colossal Biosciences built an artificial egg by placing an ultra-thin, transparent silicone membrane inside a rigid 3D-printed cup, letting scientists watch the embryo develop. Twenty-six chickens have already been hatched.

In Austin, they are:
Cedar Park-based Hyliion landed on Time’s list with its Karno Power Module, a modular generator designed to produce power wherever it’s needed. The Karno represents a big pivot for the company. Hyliion got its start building electrified powertrains for 18-wheelers before shifting into power generation after acquiring the Karno generator technology from GE Aerospace. Founded in Pittsburgh in 2015, the company relocated to Cedar Park in 2018.

The other Austin-associated honoree is Moment Energy. As more electric vehicles hit the road, a growing number of their batteries are nearing retirement, while demand for power keeps climbing. Moment Energy found a way to tackle both problems at once. The company’s Megafactory 1, which opened in Vancouver, Canada, in June, turns old EV batteries into modular energy storage systems for hospitals, factories, data centers, and other big power users. “Our goal is to make sure these batteries don’t end up in landfills,” founder Edward Chiang told Time.

In the “Special Mentions” category, Austin-based Renzoe Box gained notice for its refillable custom makeup palette for on-the-go people. Licensed architect René Graham designed the box. She graduated from Houston's Rice University, and was born and raised in Dallas.

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A version of this article first appeared on CultureMap.com.

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