xAI Revenue Triples to $2.6B but Division Still Lost $1.5B This Quarter

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SpaceX's AI division saw its revenue grow more than threefold to $2.6 billion compared to the prior year, driven largely by compute deals with other AI firms. The division nonetheless posted a $1.5 billion loss this quarter, a marginal improvement over the same period last year. SpaceX secured compute agreements with Anthropic in May and Google in June, positioning it as a competitor to neoclouds like CoreWeave. The company has identified its AI division as the primary source of its overall value in documents related to a potential public offering. Growing AI ambitions are also pushing SpaceX to increase its capital expenditure in the sector.

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