SpaceX's AI compute business now outearns its space business

SpaceX's AI division revenue grew more than three-fold to $2.6 billion, driven largely by compute deals with Anthropic (signed in May) and Google (signed in June). The unit still lost $1.5 billion this quarter, a smaller loss than a year earlier.

Why it matters: SpaceX joining CoreWeave and other neoclouds as an AI compute supplier, even while losing money on it, shows how central AI compute deals have become outside the traditional cloud industry — and makes SpaceX a new competitor to Anthropic's other compute partners like Volta.