SpaceX’s xAI segment posted a 6.36 billion dollar operating loss in 2025 on 3.2 billion dollars in revenue, according to the company’s IPO filing.
Revenue grew 22 percent compared with the prior year, but spending on infrastructure and talent outpaced gains. The segment includes the X social platform and Musk’s AI model development.
SpaceX raised 75 billion dollars in capital expenditure for its AI business in the first quarter of 2026 alone, accelerating from 12.7 billion dollars for all of 2025.
Investors weighing the IPO said the AI segment’s path to profitability remains one of the largest uncertainties in Musk’s newly public company.
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Sources:
https://variety.com/2026/biz/news/spacex-stock-ipo-shares-elon-musk-trillionaire-1236778893/