SpaceX sales rise 92% on AI compute deals and Starlink growth
SpaceX reported second-quarter 2026 sales of $7.8 billion, up 92% from $4 billion in the same quarter of 2025. The company said growth in its Starlink satellite internet service and computing-power rental deals with Anthropic and Google drove much of the increase.
The figures appeared in SpaceX’s first quarterly earnings report since it became a public company. Nearly $2 billion of the year-on-year sales growth came from its AI division, while Starlink revenue increased by another $1.7 billion.
AI compute becomes a major revenue contributor
The AI division’s contribution shows that SpaceX’s business now extends beyond launches and satellite connectivity. Its agreements with Anthropic and Google generated a substantial portion of the $3.8 billion increase in quarterly sales.
The report does not provide a breakdown of the individual Anthropic and Google agreements. It does, however, identify rented computing power as one of the principal factors behind the near-doubling of total revenue.
Starlink remained another central growth engine. Its $1.7 billion revenue increase accounted for a large share of the annual gain, underlining the role of satellite internet alongside the newer AI compute operation.
Results arrive after a record IPO
SpaceX released the earnings report nearly two months after raising more than $85 billion in the largest IPO in history. The flotation valued the company at $1.75 trillion, establishing a demanding public-market benchmark for its first reported quarter.
In the first days of trading, the company’s market capitalisation briefly surpassed Amazon and almost matched Microsoft. That rapid move is reflected in SpaceX’s post-IPO valuation surge past Amazon, which provides useful context for the valuation swings that followed the listing.
The initial momentum did not hold. SpaceX shares subsequently dropped below the IPO price of $135 per share, which was reportedly set by CEO Elon Musk. They closed at just over $125 on Tuesday before falling by as much as 8% in after-hours trading.
What businesses should take from the report
The quarter presents two distinct signals. Operationally, SpaceX added $3.8 billion in annual sales, with measurable contributions from both AI computing and Starlink. In the market, its shares remained below the offer price and weakened further after the figures were published.
For business leaders assessing infrastructure partners or newly listed technology companies, the practical implication is to examine revenue composition separately from share-price momentum. SpaceX’s report identifies where growth came from, but the post-IPO trading pattern shows that strong sales growth and investor reaction can move in different directions.