SpaceX reported $7.8 billion in revenue for the second quarter of 2026, up 92% from a year earlier and above consensus estimates of roughly $6.9 billion. Capital expenditures reached $18.4 billion, about 2.4 times quarterly revenue, with approximately $15.8 billion, or 86%, directed to the Colossus II compute platform. That compares with $2.8 billion in capital spending in the second quarter of 2025, representing an increase of more than sixfold in one year. The AI segment generated $2.56 billion in revenue, up 248% year over year, while SpaceX secured $14.1 billion in new AI compute contracts. Despite the revenue growth, the company posted a $541 million net loss, an improvement from the $1 billion loss recorded a year earlier. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with adjustments) rose to $3.5 billion. Shares declined after the release. CEO Elon Musk and CFO Bret Johnsen set a target of $1 trillion in annual revenue by 2030, which would require growth of more than 30 times from SpaceX’s current annualized revenue run rate of roughly $31 billion in about four years. Musk also said the company aims to establish data centers in space by 2027.