capital · May 21, 2026
SpaceX IPO Filing Shows xAI Lost $6.4 Billion in 2025 on $3.2 Billion Revenue
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SpaceX filed its IPO documents revealing xAI posted a $6.4 billion operating loss in 2025 against $3.2 billion in revenue. The filing details plans to expand Grok to multiple trillions of parameters, requiring further compute investments. In 2024 xAI reported a $1.56 billion loss on $2.62 billion revenue. xAI merged into SpaceX in February 2026 ahead of the combined entity's public debut.
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