SpaceX (SPCX): FY26 Q2 earnings call, Aug 4, 2026

…We're significantly improving our AI models, most notably with the release of Grok 4.5 last month. I'll dive into each of those topics separately. With…

…can actually service that bandwidth. Regarding AI, we're making rapid progress on Grok, because Grok 4.5 was a huge improvement. We have Grok 4.6 coming…

With Grok 5, which should be out before the end of this year, we will be incorporating the entire corpus of SpaceX data. Basically, all…

…This new capacity coming online will obviously further benefit the development of Grok, as will our Cursor acquisition, which should close quite soon. I think…

…We're rapidly expanding our compute capacity to meet our own needs as Grok expands, as well as those for other leading companies such as Google…

…difficult to actually explain to most people just the incredible significance of Starship. I think perhaps describing it in terms of tonnage to orbit is…

…driven primarily by new cloud services agreements, as well as growth in Grok and X subscription revenue. Advertising revenue grew 7% sequentially as we overhauled…

…competitors to copy us. We do nothing to slow them down. We launch competing satellite constellations at fair prices, the same price we charge everyone.

…call. I'm Andrea Williams, Head of Investor Relations. Joining me today are Elon, Gwyn, and Bret, we are speaking to you from our facility in…

…future but will come faster than you think, using robots on the Moon to scale up manufacturing on the Moon, which I know it sounds…

…on the Moon, and you have solar and radiator production on the Moon, you can I know this sounds totally nuts, but you can probably…

…usage and monetization for the model. We're looking forward to welcoming the Cursor team to SpaceX to integrate our engineering and begin to benefit from…

…we use for rockets and satellites and applying that to scaling terrestrial data centers. We're finding that even a small amount of what we've learned…

…making gigantic rockets reach orbit on a regular basis reliably to terrestrial data centers, this is like, frankly, the New York Yankees going in and…

…think should be considered one of the milestones and a credit to Anthropic of, I would say a shock to the system, was how good…

…faster than revenue. Importantly, we significantly strengthened the balance sheet through our IPO and inaugural investment-grade bond offering. The combination of our global launch leadership,…

…our Gigabay, and making significant progress towards activating multiple launch pads at Starbase and in Cape Canaveral at Pad 39A and Pad 37. Space adjusted…