finance
SpaceX Files for IPO, Discloses X User Numbers and Grok AI Risks
SpaceX submitted an IPO filing that reported X has 550 million monthly active users and detailed financial results for its xAI unit. The filing also outlined potential legal and reputational risks tied to Grok's less-restricted modes.
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SpaceX filed documents with regulators for a planned initial public offering that included details on the social media platform X and its artificial intelligence unit xAI. The filing stated that X has approximately 550 million monthly active users as of March 31. It added that users generate about 350 million posts per day and that 117 million monthly active users accessed Grok's AI features.
Imagine content generation tool produced roughly 10 billion images and over 2 billion videos per month in the first quarter of 2026, the filing said. The company described Grok's integration with X as a strength that supports freshness and relevance.
for xAI xAI reported an operating loss of $6.35 billion on $3.2 billion in revenue for 2025. In the first three months of 2026, the unit posted revenue of $818 million and an operating loss of $2.47 billion. Capital expenditures for the AI division reached $12.7 billion in 2025, up from $4.2 billion the prior year. In the first quarter of 2026, capital spending stood at $7.7 billion.
The filing highlighted risks associated with Grok's "Spicy" Imagine Mode and "Unhinged" Voice Mode, which have fewer safety guardrails. It noted potential issues including reputational harm, generation of explicit content, misinformation, and nonconsensual or exploitative imagery.
The company set aside $530 million for potential litigation losses as of December. SpaceX disclosed that it is under investigation in the United States and other countries over allegations that Grok was used to create sexualized imagery of apparent minors.
The filing also stated the company is a defendant in several ongoing class action lawsuits.
Revenue Details Paid subscribers for X and Grok totaled 6.3 million as of March 31, including 4.4 million for X and 1.9 million for Grok. Revenue from subscriptions rose by $365 million in 2025 and by $177 million in the first quarter of 2026. Ad sales on X fell by $100 million in the first quarter, which the company attributed to a temporary overhaul of advertiser tools.
