Beyond rockets and satellites, SpaceX is quietly building an AI compute business that may become key to its eye-popping valuation

SpaceX is generating significant revenue by renting unused GPU capacity from its Colossus data centers to Anthropic and Google, with contracts potentially earning $26 billion annually. This AI compute business helps justify SpaceX’s $1.8 trillion valuation and diversifies its income beyond rockets and satellites, despite its AI segment reporting a $6.4 billion operating loss last year.