SpaceX and xAI Made $18.7 Billion in 2025

SpaceX reported $18.7 billion in revenue for 2025 and $4.7 billion in first-quarter revenue after acquiring xAI in February. Starlink generated $3.3 billion in Q1 and $11.4 billion for the year; the space division brought in $619 million in Q1 and $4.1 billion for 2025. xAI (including ad revenue on X and Grok subscriptions) produced $818 million in Q1 and $3.2 billion for the year. Despite top-line growth, the combined company posted heavy losses — $4.3 billion in Q1 and $4.9 billion for 2025 — highlighting that revenue diversification into AI and satellite services has not yet turned SpaceX profitable. Market context in the same feed showed oil rising and gold under pressure, and a softer euro, signaling investor focus on energy and rates alongside tech and AI earnings. Overall, the news is mixed for risk assets and tech-linked names.