Elon Musk’s SpaceX reportedly recorded a loss of nearly $5 billion last year, despite raking in over $18.5 billion in revenue.
The loss incurred by SpaceX includes figures from xAI, an artificial intelligence firm founded by Musk and acquired by SpaceX in February 2026.
The financial data, which consolidates the performance of both SpaceX and xAI, has only recently been disclosed, according to The Information on Thursday.
This is a stark contrast to Reuters January reports of its robust financial performance, where profits topped $8 billion, on revenues ranging from $15 billion to $16 billion.
SpaceX did not immediately respond to Benzinga‘s request for comment.
SpaceX AI Bet, IPO Concerns Grow
The acquisition of xAI was seen as a strategic move by founder Elon Musk. Gene Munster said that SpaceX is building a “sovereign AI” platform—controlling every layer of the AI stack, including models, chips, data centers, and distribution, without relying on third-party infrastructure. However, it was a significant factor in the loss, as per the latest reports.
SpaceX has confidentially filed for what could become the biggest IPO in history. However, Bryn Talkington, a managing partner at Requisite Capital Management, warned investors against the listing, arguing the company’s valuation already prices in most of its upside, limiting potential returns and appearing disconnected from its current revenue. She said that the $16 billion revenue at a $2 trillion market cap made “no sense” to her.
Meanwhile, the Federal Communications Commission (FCC) is set to vote on April 30 on rules to ease long-standing limits on satellite spectrum use, a move aimed at boosting space-based broadband capacity. The changes could benefit services like Starlink by SpaceX and are expected to generate around $2 billion in economic gains through expanded broadband access.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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