SpaceX Revenue Doubles

Aerospace giant SpaceX has released the first quarterly financial report in its history, successfully doubling its revenue compared with the same period last year. According to ixbt.com, this growth was driven mainly by the expansion of the Starlink satellite internet service and major agreements to lease computing power to Google and Anthropic. Techcrunch.com reports .

The company’s total sales rose from $4 billion in the second quarter of 2025 to $7.8 billion in the second quarter of 2026, marking a 92% increase. Nearly $2 billion of this growth came from its artificial intelligence division, while Starlink revenue increased by another $1.7 billion. Despite the improved financial performance, the company ended the quarter with a loss of $541 million, although this was significantly lower than the $1 billion loss recorded in the second quarter of the previous year.

Historic IPO and Financial Reserves

The financial report was released nearly two months after the largest IPO in the company’s history. SpaceX raised more than $85 billion by taking its shares public and entered the stock market with a valuation of $1.75 trillion. Following a successful bond sale, the company now has a huge cash reserve of $100 billion.

During the first days of trading, the company’s market value surged, briefly overtaking Amazon and even nearly matching Microsoft. The share price then declined, falling below the $135 IPO price set by CEO Elon Musk. At the close of trading on Tuesday, the shares ended slightly above $125, but they fell by as much as 8% in after-hours trading.

A Shift Toward Artificial Intelligence

The agreements to lease computing power to Google and Anthropic were announced several weeks before the IPO and marked a major shift in the company’s strategy. After Elon Musk’s xAI startup was integrated into the rocket company, its artificial intelligence division had been falling behind leading laboratories such as OpenAI and Anthropic. Against this backdrop, xAI became embroiled in various controversies, including its Grok chatbot calling itself “MechaHitler” and generating content related to child exploitation, which sparked public outrage.

The company had already built two data centers in and around Memphis, Tennessee, to train xAI models. It therefore decided to lease the existing capacity to customers such as Anthropic and Google. At a conference on Tuesday, SpaceX Chief Financial Officer Bret Johnsen emphasized that the additional revenue from the new hosting agreements provided a higher EBITDA margin by monetizing existing capacity.