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SpaceX Filing Reveals $18.7B Revenue and AI-Driven Losses Ahead of IPO

SpaceX Filing Reveals $18.7B Revenue and AI-Driven Losses Ahead of IPO

CoinEditionCoinEdition2026/05/25 04:00
By:CoinEdition

SpaceX has released its finances publicly for the first time as it prepares for a possible Nasdaq listing. The documents show higher revenue, deep losses, heavy AI spending, and Elon Musk’s wider plan to expand the company beyond rockets.

According to a New York Times report, SpaceX generated $18.7 billion in revenue in 2025, a 33% increase from the previous year. The revenue jump came with steep losses, as SpaceX reported a deficit of more than $4.9 billion.

However, costs rose as SpaceX spent heavily on artificial intelligence infrastructure, data centers, and future projects. Revenue also increased in early 2026. The platform reported first-quarter revenue of $4.7 billion, up from $4.1 billion in the same period a year earlier.

Losses rose at a sharper pace. The company’s first-quarter loss reached $4.3 billion, almost equal to its full-year loss in 2025.

A major reason was capital spending. The filing said capital expenditures nearly doubled to $20.7 billion last year. However, much of that money went into AI projects and computing systems. SpaceX also invested in large data center developments linked to its wider infrastructure plans.

Starlink remains the company’s strongest operating business. The satellite internet service acquired 10.3 million subscribers by March 2026.

That number was two times higher than the rate announced a year ago. Starlink also generated about $4.4 billion in operating income in 2025.

Starlink has emerged as a crucial revenue source for SpaceX. Larger projects, including Starship and AI infrastructure, still require heavy funding. The filing also showed the scale of Musk’s long-term targets. SpaceX estimated its future addressable market at $28.5 trillion.

That estimate includes artificial intelligence, satellite connectivity, space infrastructure, and related services. It points to a business plan that stretches far beyond launches.

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AI computing was one of the biggest disclosures. SpaceX said recent spending included large AI data centers called Colossus 1 and Colossus 2 in Tennessee.

Another detail involved Anthropic. According to the filing, this would involve the AI company renting computing capacity from SpaceX, and it explained that this might cost $1.25 billion a month for a three-year contract.

Musk’s plans really go beyond just contemporary commercial activity. The filing referenced everything from orbital AI data centers to moon colonies, AI chip production, and future human life forms off planet Earth.

A report claims SpaceX could file for its public offering next month. It could pull in from $50 billion to $75 billion. If completed, the deal would be one of the largest IPOs on record. SPC Group is expected to trade on Nasdaq under the SPCX ticker symbol.

However, launch failures, escalating AI costs, Starlink scaling challenges and reputational issues under Grok are all included.

Related: Trump Media Moves 2,650 BTC as Holdings Keep Falling

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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