SpaceX's second-quarter 2026 revenue rose 92% to $7.81 billion as AI segment sales grew 247.5%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

SpaceX reported revenue of $7.81 billion for the quarter ended Jun 30, 2026, 92% more than a year earlier, in a Form 10-Q (the quarterly report US-listed companies file with the SEC) filed Aug 4, 2026, after its June 2026 initial public offering. The operating loss narrowed to $143 million from $970 million, and the net loss to $541 million from $1.01 billion.1^,2^,3^,4^,5^,6^,7^,8^,9

By segment, AI (the Grok model, AI products, the X platform and computing infrastructure) had revenue of $2.56 billion, up 247.5%; Connectivity (the Starlink satellite network), $4.29 billion, up 65.8%; and Space (rocket launches), $962 million, up 29.0%. In the 10-Q, AI infrastructure revenue rose by $1,600 million as SpaceX began to offer cloud services to customers, and Grok and X subscription revenue by $258 million, while advertising revenue fell 13.8% to $367 million, which the filing ties to a new advertising platform. AI research and development spending rose 94.1% to $2.178 billion, with $726 million of the increase from infrastructure and cloud computing costs and $180 million from employee compensation; the segment's operating loss was $1.257 billion, against $1.524 billion a year earlier.10^,11^,12^,13^,14^,15^,16^,17^,18^,19^,20^,21^,22^,23^,24^,25

Nameplate compute draw, the company's measure of installed GPU power, reached 1.4 gigawatts at Jun 30, 2026, against 0.4 a year earlier, and the release put AI-segment capital expenditure at $15.828 billion for the quarter, against $749 million a year earlier. The release reported cloud services agreements totaling $14.1 billion in contracted sales, meaning the value of signed contracts for their non-cancellable periods, which added $1.6 billion of second-quarter AI infrastructure revenue. A customer the filing labels Customer B, whose revenue falls in the AI segment, accounted for 19.5% of consolidated revenue in the quarter.3^,26^,27^,28^,29^,30^,31^,32

The release said SpaceX released Grok 4.5 in July, which it called its largest and smartest model yet, trained alongside Cursor and incorporating a 1.5 trillion-parameter V9 foundation model. In April 2026 SpaceX took an option to acquire Cursor, a software company, with payment in Class A shares based on an implied equity value of $60 billion (the value of Cursor's shares, before debt), and in June 2026 it exercised the option and signed a merger agreement. The release said the acquisition was meant to speed up its enterprise AI offerings with one of the most advanced AI coding tools available. The 10-Q said SpaceX expected the merger to close in the third quarter of 2026, and an 8-K filed Aug 14, 2026 reported it effective that day. The notes say the company and some subsidiaries have been named in multiple lawsuits since January 2026 over Grok's image-generation and editing features, which the complaints generally allege enabled nonconsensual explicit images or sexualized content showing women or children; SpaceX said it intended to defend itself vigorously.33^,34^,35^,36^,37^,38^,39^,40^,41^,42^,43

Our records hold the 10-Q's management discussion (70 subsections) and 20 numbered notes, not its other exhibits, and keep one value for each period, so they cannot tell whether last year's figures were restated.44^,45