Filing for an IPO, SpaceX said it generated revenue of 18.7 billion US dollars in 2025, up 33% year-on-year. Connectivity revenue rose almost 50% to 11.4 billion dollars. Space revenues were up just 7.6% to 4.1 billion dollars.
Capital spending climbed 86% to 20.7 billion dollars, as SpaceX ramped up investments in AI infrastructure.
In May 2026, SpaceX entered into cloud services agreements with Anthropic, an AI research and development public benefit corporation, to access compute capacity across SpaceX's COLOSSUS and COLOSSUS II data centres. It said Anthropic has agreed to pay 1.25 billion dollars per month through May 2029, with capacity ramping in May and June 2026 at a reduced fee. Source: SpaceX IPO prospectus
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