Elon Musk’s xAI reported a $6.4 billion operating loss for 2025. The company generated $3.2 billion in revenue during the same period. SpaceX disclosed these financials in an S-1 filing for its anticipated initial public offering. The document reveals that xAI has merged into the aerospace company.
Capital expenditures for the AI segment are accelerating. Spending is projected to reach an annualized rate of $30.8 billion in 2026. This investment will fund a significant expansion of the Grok AI model. The figures underscore the immense capital required to compete with rivals like OpenAI and Google.