SpaceX announced that its Q2 capital expenditures reached $18.4B, with $15.8B earmarked for AI projects, double the prior quarter. The rocket companyNovel launched its IPO in June, positioning itself at the heart of the AI revolution.

The firm is developing its own AI model while investing heavily in terrestrial computing infrastructure, signing AI partnerships, and planning orbital data centers. Elon Musk emphasized that SpaceX is building AI compute capacity faster than any other company.

Musk outlined plans to expand data‑center power from 2 GW to 10 GW, aiming to field some of the world’s largest data‑center footprints and launch the first orbital centers by 2027.

SpaceX’s AI spree mirrors broader tech trends: Amazon.com recently projected about $220B in AI‑driven capital spending for the year, underscoring the sector’s explosive growth.