TSLA
XSPC
Another Musk family receipt
SpaceX’s latest filing says it spent $295 million on Tesla Megapack batteries in the second quarter, adding another neon arrow to the giant corkboard connecting Elon Musk’s companies. If you’ve ever thought, “Wait, didn’t these businesses already seem weirdly linked?” — yes. Very yes.
Why this matters
The filing also showed $329 million of Megapack purchases in the first half, plus earlier buys of batteries and Cybertrucks. That’s not exactly the sort of cross-shopping you see between normal public companies unless the CEO’s version of a diversified portfolio is just “my other company.”
Investors are watching for a few reasons:
- The batteries may be helping power xAI-related data centers after SpaceX absorbed the AI company in February.
- Tesla says Megapacks can smooth out power supply and prevent outages, which is handy when you’re trying to keep giant data centers from acting like a laptop at 2% battery.
- The related-party label means the money flow between Musk’s businesses is now plain as day in the filings.
The bigger question: what is this empire becoming?
The article says SpaceX’s first earnings report since its June IPO showed huge revenue growth, but also massive spending on AI infrastructure. That makes the Tesla battery purchases feel less like a one-off and more like a signpost: SpaceX isn’t just a rocket company anymore, and Tesla isn’t just an EV company anymore either.
Big picture: when Musk companies start buying each other’s hardware in nine-figure chunks, you’re not looking at a normal supplier relationship — you’re looking at a very expensive ecosystem.