Analysis indicates that SpaceX's AI business generated approximately $3.2 billion in revenue in 2025, increasing to $3.4 billion by Q2 2026, and has turned positive in adjusted EBITDA. The company achieved this growth by leasing out the spare capacity of its Colossus supercomputing cluster, signing several large contracts with clients including Anthropic ($1.25 billion per month), Google Cloud ($920 million per month starting this fall), Reflection AI ($150 million per month, totaling up to $6.3 billion), and an unnamed client ($1.11 billion per month starting in December). Additionally, SpaceX disclosed a $6.7 billion six-month AI cloud deal during its Q2 earnings call, which analysts believe may be related to the U.S. Department of Defense. CFO Bret Johnsen anticipates the company's annualized revenue could reach $100 billion by the end of this year, while Elon Musk is even more optimistic, suggesting that its AI revenue might surpass the company's other businesses as early as this month.