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Once, I had some questions about why SpaceX, Elon Musk's healthiest company, acquired xAI, his sickliest one. Now I have some questions about why we're calling the whole thing SpaceX.
Published August 5, 2026 · Category: Tech
Overview
Privatize the profit, socialize the losses? | Image: Cath Virginia / The Verge, Getty Images
Once, I had some questions about why SpaceX, Elon Musk's healthiest company, acquired xAI, his sickliest one. Now I have some questions about why we're calling the whole thing SpaceX.
Look, what we have here, by revenue, is primarily a telecom company and a company that rents compute, according to SpaceX's first quarterly earnings statement as a public company. The space sector of the business didn't break a billion dollars this quarter and contributed only a touch over 10 percent of the company's revenue. SpaceX remains its own biggest customer. There just aren't enough other people who want its rockets. And, I dunno, maybe if the rockets …
What is "SpaceX is barely Space and mostly X" about?+
Once, I had some questions about why SpaceX, Elon Musk's healthiest company, acquired xAI, his sickliest one. Now I have some questions about why we're calling the whole thing SpaceX. Look, what we have here, by revenue, is primarily a telecom company and a company that rents compute, according to SpaceX's first quarterly earnings statement […]
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