xAI lost $6.4 billion on $3.2 billion in revenue in 2025, with capex run rate annualized to about $30.8 billion in early 2026

xAI's operating loss widened from $1.56 billion on $2.62 billion in revenue in 2024 to $6.4 billion on $3.2 billion in revenue in 2025, according to SpaceX's IPO filings released after Elon Musk merged xAI with SpaceX in February.

AI segment capital expenditures climbed from $12.7 billion in 2025 to $7.7 billion in Q1 2026 alone, creating an annualized capex run rate of about $30.8 billion. SpaceX plans to scale Grok (an AI chatbot) to 'multiple trillions of parameters' and expand AI compute infrastructure, including Colossus and Colossus II data centers that provide about 1 gigawatt of compute power collectively.

As of March 2026, Grok AI features had 117 million monthly active users out of 550 million total monthly active users across Grok and X combined. SpaceX intends to deploy orbital AI compute satellites as early as 2028 as a potential lower-cost alternative to terrestrial data centers.