xAI burned $6.4B last year — SpaceX’s IPO filing shows why the spending is far from over

SpaceX's IPO filing reveals that xAI, Elon Musk's AI company, lost $6.4 billion in 2025 while planning significant expansion of its Grok chatbot. The filing provides the first public disclosure of xAI's financial performance and demonstrates Musk's substantial continued investment in competing with established AI players like OpenAI and Anthropic.