SpaceX Reports $7.8bn Revenue, Sets AI and Space Goals
SpaceX reported strong second-quarter revenue growth as Elon Musk revealed major plans for AI computing, Starlink and Starship.
SpaceX has reported second-quarter 2026 revenue of $7.8 billion, beating market expectations of $6.93 billion, as its Starlink and SpaceXAI businesses continued to drive growth.
The company recorded a net loss of $541 million, compared with analysts’ expectations of a $1.94 billion loss. Despite remaining unprofitable, SpaceX used its earnings call to outline ambitious plans for artificial intelligence, satellite technology and future space missions.
Elon Musk revealed that the company will rely exclusively on NVIDIA GPUs for future computing needs, with upcoming data centres expected to use the Vera Rubin platform. He added that SpaceXAI satellites will use NVIDIA’s Space-1 Vera Rubin modules, which include advanced processors designed for high-performance computing.
The company plans to bring around 2 gigawatts of computing capacity online by the end of 2026 and aims to reach nearly 10 gigawatts by the end of 2027. Musk said SpaceXAI has already secured $6.7 billion in cloud contracts and intends to expand its computing rental business.
Discussing the global chip shortage, Musk said memory supply remains the biggest challenge for the industry. He explained, “Limiting factor currently is memory. Memory output is increasing by around 20% per year. Now normally that would be fantastically fast and amazing for any large mature industry. But ask yourself is the demand increasing by 20% a year? No, the demand is increasing by 200% a year, maybe higher. So if you’ve got demand increasing much faster than supply then Economics 101 would suggest that the price increases. It does not decrease.”
Musk also predicted that SpaceX revenue could reach $1 trillion by 2030 and said the company expects more than $100 billion in annual recurring revenue by December.
The billionaire also confirmed plans to challenge major US telecom companies through Starlink Mobile, while SpaceX targets daily Starship launches by 2027 and a human return to the Moon in 2028.
Do you think SpaceX’s expansion into AI and mobile services could reshape the future technology industry?
