On the Dash:
- Tesla continues expanding revenue streams beyond vehicle sales through energy storage and affiliated business partnerships.
- Cross-company integration could further influence Tesla’s manufacturing, AI, and infrastructure strategies.
- Megapack sales are becoming an increasingly important contributor to Tesla’s overall business growth.
Tesla generated roughly $890 million in revenue from transactions with SpaceX and xAI since 2023, highlighting the expanding financial ties across Elon Musk’s business empire as SpaceX prepares for its planned initial public offering.
A regulatory filing released Wednesday indicated Musk’s combined rocket and artificial intelligence businesses purchased about $131 million worth of Tesla Cybertrucks in 2025, confirming an earlier Bloomberg report.
Megapack revenue grows
Most of the revenue came from Tesla’s Megapack energy-storage business. The filing showed Tesla sold approximately $506 million in Megapack batteries in 2025 and another $191 million in 2024 to xAI, which SpaceX acquired in February.
The disclosures appeared in a prospectus outlining SpaceX’s operations and financial performance ahead of its planned IPO. Tesla previously disclosed portions of the transactions in a filing last month.
Musk firms deepen ties
Musk’s companies have long maintained overlapping financial relationships through investments, partnerships, shared employees, and common investor networks. Tesla and SpaceX are also collaborating on a semiconductor manufacturing facility Musk has referred to as “Terafab.”
SpaceX additionally disclosed plans to add Tesla board member Ira Ehrenpreis, 57, and longtime SpaceX board observer Randy Glein, 60, to its board of directors. Ehrenpreis has served on Tesla’s board since 2007, while Glein has observed SpaceX operations since 2009.
In addition to Tesla and SpaceX, Musk oversees Neuralink and the Boring Co. His holdings across those businesses have helped make him the world’s richest person, according to the Bloomberg Billionaires Index.
