SpaceX Capital Spending Soars to $15.8 Billion on AI Infrastructure in First Post-IPO Disclosure
Second-quarter revenue rose 92% to $7.8 billion as net losses narrowed to $541 million following the company's June public listing.
SpaceX logged a 2,013 percent surge in quarterly capital expenditures to $15.8 billion in its first earnings report since going public on June 12, driven by massive infrastructure investments in its artificial intelligence operations.
Overall revenue for the second quarter jumped 92 percent year-over-year to $7.8 billion. The company narrowed its total net loss to $541 million, down from $1 billion during the same period last year, as commercial cloud demand helped offset heavy spending on data center infrastructure.
The financial statements offer an unprecedented view into the operating costs required to maintain high-end artificial intelligence infrastructure. Revenue from the division previously known as xAI rose 247 percent to $2.56 billion, compared to $737 million a year ago, while the division’s quarterly operating loss shrank to $1.25 billion from $1.54 billion.
Capital allocation within the company swung heavily toward compute hardware over aerospace assets. SpaceX spent $15.8 billion on AI-related capital expenditures during the three-month period, compared with $1.17 billion spent on maintaining and improving fixed assets in its core rocket launch business.
The jump in compute revenue was largely driven by Cloud Services Agreements with major technology firms, including multi-billion-dollar infrastructure contracts with Anthropic and Google. Under an existing agreement, Anthropic pays $1.25 billion per month through May 2029 to access compute capacity at SpaceX’s Colossus 1 data center.
SpaceX’s financial results for the upcoming quarter are expected to reflect its pending acquisition of AI tool developer Cursor, which is scheduled to close before the end of the third quarter.
