SpaceX's AI Business Lost $6.4 Billion Last Year — And That's Exactly The Point

SpaceX's AI segment posted a $6.4 billion operating loss in 2025, more than quadrupling from $1.6 billion the prior year. The company is making aggressive investments in gigawatt-scale AI infrastructure, viewing the losses as a construction investment rather than a problem. SpaceX estimates the total AI opportunity at $26.5 trillion across infrastructure, enterprise applications, subscriptions, and advertising, following a similar playbook to Amazon and Meta's infrastructure buildout strategies.