v3.26.1
Property, Plant, and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant, and Equipment, Net
Note 5 - Property, Plant, and Equipment, Net
Property, plant, and equipment, net consist of the following:
June 30, 2026December 31, 2025
Servers and networking equipment$34,771 $22,694 
Satellites13,788 11,949 
Machinery and equipment9,453 6,343 
Data center infrastructure3,991 2,960 
Launch sites3,118 2,404 
Land, buildings, and improvements (1)
2,958 1,876 
Flight vehicle hardware1,557 1,689 
Leasehold improvements881 784 
Construction-in-progress12,554 4,604 
Property, plant, and equipment83,071 55,303 
Less: Accumulated depreciation(17,335)(12,701)
Property, plant, and equipment, net
$65,736 $42,602 
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(1)Land is not a depreciable asset.
Construction in progress is primarily comprised of ongoing construction and expansion of the facilities and equipment as well as AI infrastructure that has not yet been placed in service.
Depreciation expense for the three and six months ended June 30, 2026 was $2,735 million and $5,064 million, respectively. Depreciation expense for the three and six months ended June 30, 2025 was $1,310 million and $2,547 million, respectively.
Interest is capitalized during the construction period for significant long term construction projects, such as the AI infrastructure data centers and launch facilities. For the three and six months ended June 30, 2026, the Company capitalized $13 million and $20 million, respectively, of interest, which is included in Construction-in-progress amounts above. $22 million and $22 million of interest was capitalized during the three and six months ended June 30, 2025, respectively.