SpaceX reports $7.8B revenue in first public earnings

SpaceX released its first public earnings report on August 4, 2026, revealing a 92 percent year-over-year revenue increase to $7.8 billion for the second quarter. The company also cut its net loss to $541 million from $1 billion a year earlier.

The AI division, formerly xAI, drove much of the growth, with revenue surging 247 percent to $2.56 billion from $737 million a year ago. SpaceX credited Cloud Services Agreements, including deals with Anthropic and Google, for the jump. The division's operating loss narrowed to $1.25 billion from $1.54 billion.

The report highlights the massive costs of running an AI business. Capital expenditures for the AI division soared 2,013 percent year-over-year to $15.8 billion in the quarter. In contrast, the rocket launch segment spent just $1.17 billion on fixed assets.

SpaceX went public on June 12, 2026, and this earnings release offers the first clear look inside an AI startup's finances. The company is often considered the fourth major player in AI behind Anthropic, Google, and OpenAI.

A key factor in future results is a deal with Anthropic, which will pay $1.25 billion per month through May 2029 to use SpaceX's Colossus 1 data center. The upcoming Cursor acquisition, expected to close this quarter, may also affect the AI division's bottom line.