SpaceX buys $329M in Tesla Megapacks this year

SpaceX spent $295 million on Tesla Megapack battery storage systems in the second quarter of 2026, bringing its total purchases for the year to $329 million, according to an earnings report released on August 4, 2026.

Elon Musk, who is CEO and largest shareholder of both SpaceX and Tesla, merged his artificial intelligence company xAI into SpaceX earlier this year.

The batteries are likely destined for data centers operated by xAI. Before the merger, xAI had bought $430 million worth of Megapacks, though in the first quarter of 2026 it purchased just $34 million.

As of December 2025, SpaceX had acquired $131 million worth of Tesla Cybertrucks at the manufacturer's suggested retail price, the report added.

Megapacks are critical even for data centers like xAI's that rely heavily on natural gas, including dozens of unpermitted turbines at a Mississippi site near the Colossus project. They provide backup power within a second and supply extra power to GPUs during demand spikes from AI training or inference. Batteries smooth these peaks, avoiding steep utility charges and generator stress while ensuring consistent operation.