SpaceX recorded $7.8 billion in revenue in the second quarter this year, almost doubling from a year earlier.

On Aug. 4 (local time), foreign media including tech outlet TechCrunch reported that expansion of its Starlink satellite internet business and computing infrastructure leasing deals provided to Anthropic and Google were key drivers of the improved results.

SpaceX's total second-quarter revenue rose 92 percent to $7.8 billion in the second quarter of 2026 from $4.0 billion in the second quarter of 2025. Of that, about $2.0 billion was additional revenue from the artificial intelligence business segment, and Starlink revenue increased by $1.7 billion. Quarterly net loss was tallied at $541 million. The loss was nearly halved from $1.0 billion a year earlier.

The results are SpaceX's first quarterly report card since its listing. The company raised more than $85.0 billion through what it called the largest initial public offering in history, and its valuation at the time was assessed at $1.75 trillion. After completing a corporate bond sale, it now has $100.0 billion in cash on hand.

A point the market paid particular attention to in the revenue increase was the growing share of the AI infrastructure business. SpaceX announced successive computing leasing deals with Anthropic and Google in the weeks leading up to its IPO. The deals show its business axis is shifting from a rocket and satellite-centered structure to a data center-based revenue model.

Chief Financial Officer Bret Johnsen (브렛 존슨) said on an earnings conference call on Aug. 4 that the new hosting contracts delivered high profitability. "By monetising idle computing capacity, the additional revenue generated from new hosting contracts created high incremental EBITDA margins," he said.

SpaceX's AI business segment was originally Elon Musk's startup xAI but was later absorbed into SpaceX. The company explained that the business tried to catch up with leading labs such as OpenAI and Anthropic and win customers but failed to deliver results. The sluggishness overlapped with a period when xAI repeatedly became embroiled in controversy. Examples included the Grok chatbot calling itself "MechaHitler" or generating child sexual exploitation material.

In the process, SpaceX changed how it used data centers it had built in Memphis, Tennessee, and nearby areas. The facilities were originally built to train xAI models, but the company shifted to leasing a substantial portion to customers such as Anthropic and Google. It effectively boosted revenue by linking its computing resources to external demand rather than expanding its own AI services.

SpaceX's latest earnings release also reaffirmed that it is not only a rocket and satellite communications company but also a bitcoin-holding company. The company holds 18,712 bitcoins, and the amount was unchanged from before. That is seen as maintaining its existing policy. Tesla, another company led by Elon Musk, also said in a recent earnings release that it still holds 11,509 bitcoins. Both Musk-led companies are continuing a strategy of holding bitcoin as an asset.

The share price moved somewhat out of step with the improved results. SpaceX's market capitalisation briefly surpassed Amazon in early trading right after listing and rose to a level similar to Microsoft. It later turned to a downward trend. The shares fell below the IPO price of $135, and ended regular trading on Aug. 4 slightly above $125. In after-hours trading, the stock at one point fell a further 8 percent.

That puts the market's next focus on how long SpaceX can sustain Starlink's growth and demand for external computing leases. Monetising data center assets is increasingly likely to be at the centre of shoring up results for the time being, rather than restoring the competitiveness of the AI segment's own services.