Overview
- SpaceX reported second-quarter revenue of $7.8 billion on Tuesday while posting a $541 million net loss in its first public earnings report.
- The company spent roughly $18.4 billion in Q2 with more than 85% directed to its AI build‑out, and the AI unit generated about $2.6 billion in revenue while recording an operating loss near $1.26–1.3 billion.
- Starlink doubled subscribers to about 12 million and remained the only profitable segment, providing the bulk of cash flow as SpaceX expands satellite and mobile services.
- Shares fell roughly 7–10% after the report as investors reacted to elevated capex and the lockup schedule that makes about 911.5 million insider shares eligible to trade starting Aug. 6, a sell‑pressure risk magnified by a very small tradable float.
- Large compute contracts with firms including Anthropic and Google are already bringing revenue but the scale of AI spending raises questions about how long the company's IPO proceeds will fund Starship development and data‑center expansion.