"On the AI compute side, we're able to deploy capital in such a way that we're getting less than a one-year payback." And SpaceX has a separate agreement to provide computing power to Reflection AI for up to $150 million a month. SpaceX addressed Wall Street for the first time during a period of heightened scrutiny surrounding AI spending as tech outlays reach into the stratosphere. To this point, SpaceX's AI business has been bleeding cash. In the second quarter, the unit generated $2.56 billion in revenue and had a $1.26 billion operating loss.