Back to News
Jun 5, 2026 12:00 PM

SpaceX's AI Business Lost $6.4 Billion Last Year — And That's Exactly The Point

SpaceX‘s AI business lost a staggering $6.4 billion last year. Most companies would call that a problem. Elon Musk appears to call it an investment.

Buried in the company’s IPO fact sheet is a glimpse into what could become one of the most aggressive AI infrastructure bets in the industry. While investors have been focused on NVIDIA Corp (NASDAQ:NVDA), OpenAI and the race for ever-larger AI clusters, SpaceX is quietly spending billions building what it describes as gigawatt-scale AI infrastructure.

• Nvidia stock is trending lower. Why is NVDA stock retreating?

Gigawatt AI Ambitions

According to the filing, SpaceX’s AI segment posted an operating loss of $6.4 billion in 2025, compared with a $1.6 billion loss a year earlier. Segment-adjusted EBITDA swung to a loss of $1.2 billion from a positive $300 million in 2024 as the company ...