xAI lost $6.4B in 2025, plans orbital compute
spacex ipo filing reveals xai lost $6.4b in 2025 on $3.2b revenue, planning trillions of parameters models and orbital compute by 2028.
spacex's ipo filing exposes xai's financials, showing operational losses doubled to $6.4b in 2025 against $3.2b revenue, driven by soaring capex that hit an annualized run rate of $30.8b. despite revenue growth from x and grok subscriptions, adoption lags with only 117m monthly active users engaging with ai features out of 550m total users. to compete, spacex intends to vertically integrate compute, targeting 'multiple trillions of parameters' for future models and launching orbital data centers by 2028 for cheaper processing power.