Elon Musk’s xAI reported a $6.4 billion operating loss for 2025. SpaceX disclosed these financial details within its initial public offering (IPO) S-1 filing.
The combined SpaceX-xAI entity posted a $4.9 billion net loss for the year. This figure represents a sharp reversal from the standalone profit SpaceX recorded one year earlier.
Heavy spending on the Grok chatbot and AI infrastructure drove the financial decline. Capital expenditures focused on massive data centers, computing hardware, and technical talent. These investments highlight the rising costs of competing against rivals OpenAI and Google.