MoneyAugust 4, 2026via The Verge AI
SpaceX has more neocloud revenue
Why it matters
SpaceX is becoming a material player in the AI compute buildout through neocloud deals with Anthropic and Google, signaling a shift in how frontier labs are sourcing compute capacity outside traditional cloud providers.
Key signals
- SpaceX AI revenue: $2.6B (3x YoY growth)
- AI division loss: $1.5B this quarter (slightly improved from prior year)
- Deals with Anthropic (May) and Google (June) for compute provision
- SpaceX AI cited as source of most company value in IPO documents
- Competition with CoreWeave and other neoclouds
The hook
$2.6B. SpaceX's AI compute revenue tripled, but the division still lost $1.5B this quarter.
SpaceX's AI revenue grew more than three times to $2.6 billion from the year before, mostly because of deals that the company made to provide compute to other AI companies, according to SpaceX's quarterly earnings. The AI division, which the company said in its documents to go public was the source …