xAI burned $6.4B last year. SpaceX’s IPO filing shows why the spending is far from over
TechCrunch
SpaceX IPO filings reveal xAI lost $6.4 billion in 2025 as the company plans massive infrastructure investments to scale its Grok AI model.Summary
Newly released SpaceX IPO filings provide the first detailed look at the financials for xAI, revealing a $6.4 billion operating loss in 2025 against $3.2 billion in revenue. The company is aggressively scaling its Grok AI model to encompass trillions of parameters, requiring massive capital expenditures on compute infrastructure. While SpaceX emphasizes that vertical integration and future orbital data centers will eventually optimize costs, current spending remains at an annualized run rate exceeding $30 billion.
(Source：TechCrunch)