xAI reported a $6.4 billion loss last year: SpaceX IPO documents

Elon Musk's xAI company reported $3.2 billion in revenue in 2025, but incurred an operating loss of $6.4 billion. These financial figures were disclosed for the first time in documents filed for SpaceX's IPO (Initial Public Offering). According to reports, costs and losses are expected to increase further. This is according to Techcrunch.com reports.

SpaceX plans to go public this year in conjunction with its artificial intelligence division, xAI. This IPO could be one of the largest in history, with the company valued at $1.75 trillion. The documents outline a goal to scale the Grok model to a "multi-trillion parameter" level, which will require massive additional investments in computing power.

Capital expenditures for the AI segment reached $7.7 billion in the first quarter of 2026. If this pace continues, annual expenditures could reach $30.8 billion. Currently, out of 550 million total monthly active users of Grok and the X platform, only 117 million (about one-fifth) are actively using AI features.

Musk is proposing new ways to cut costs to reassure investors. Specifically, SpaceX plans to launch orbital data centers starting in 2028. The company believes that training and processing AI via satellites in space will be much cheaper and more efficient than terrestrial data centers.