SpaceX is now making more quarterly revenue from AI compute than from its space business, according to documents reported by The Verge. The company’s AI revenue more than tripled from a year earlier to $2.6 billion, driven largely by deals to provide compute to other AI companies.
The shift puts SpaceX into the fast-growing neocloud market, where companies sell large-scale GPU capacity to model developers. The Verge reports that SpaceX made compute deals with Anthropic in May and Google in June, while capital expenditures rose to $18.37 billion.
The numbers do not mean the AI division is profitable. The report says the unit lost $1.5 billion in the quarter, slightly less than in the same period last year. SpaceX’s Starlink connectivity business still produced higher revenue at $4.2 billion.
The broader consequence is that AI infrastructure is reshaping companies far outside traditional software. SpaceX’s rocket, energy, connectivity, and data-center plans are becoming linked by the enormous power and compute demands of training and serving models. The limit is cost: revenue can grow quickly while losses and capital spending remain heavy.