Goldman Sachs analyzed SpaceX’s AI segment, which generated $2.56 billion in Q2 2026, a 247% increase year-over-year. Revenue comes primarily from renting surplus GPU compute from its Colossus data centers, originally built to train models for xAI. Anthropic pays approximately $1.25 billion per month, Google approximately $920 million per month, and an undisclosed third customer will pay $1.11 billion per month starting December 2026. The bank warns, however, that rental prices remain significantly higher than the revenue the AI industry needs for profitability, suggesting a scarcity premium driven by short-term capacity constraints rather than sustainable economics. Goldman projects SpaceX’s AI revenue will rise from $3.2 billion in 2025 to $322 billion by 2030.
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