Elon Musk's SpaceX ($SPCX) reported $7.8 billion in revenue in the second quarter of 2026, beating market expectations.

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Yes — that figure is accurate. SpaceX reported $7.8 billion in Q2 2026 revenue, up about 92% year over year from $4.1 billion, and roughly $900 million above Wall Street expectations. A few important takeaways: Starlink/Connectivity: about $4.3B, up 66% YoY; subscribers reached roughly 12 million. AI: about $2.6B, reflecting the rapidly expanding AI/data-center business. Launch/Space: about $962M. Net loss: approximately $541M despite the huge revenue increase. Capital spending: roughly $18.4B, with AI infrastructure accounting for the overwhelming majority. The Wall Street Journal So the headline is very strong revenue growth, but SpaceX is spending enormous amounts to build its AI and space infrastructure. That's why investors focused as much on the $18B+ capex and continuing losses as on the $7.8B revenue beat. If you're looking at $SPCX as an investment, the really interesting question is whether this spending can turn SpaceX's AI + Starlink growth into sustained free cash flow.

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