A newly released SpaceX IPO filing has revealed the company significantly expanded its investment in Tesla’s energy storage products in early 2026, purchasing hundreds of millions of dollars worth of Megapack batteries in just four months.
According to the filing, xAI, which is now part of SpaceX after a merger earlier this year, purchased US$303 million in Tesla products and services between January 1 and April 30, 2026, with US$269 million of that amount specifically tied to Megapack purchases.
The newly disclosed purchases come on top of the massive investments already made in Tesla’s utility-scale battery technology. According to the filing, xAI purchased US$191 million worth of Tesla products in 2024 and another US$506 million in 2025, with much of that spending tied to Megapack deployments supporting the company’s rapidly expanding artificial intelligence (AI) infrastructure.
The filing also reveals the spending spree is continuing at a rapid pace. The US$269 million in Megapack purchases disclosed for the first four months of 2026 already represents more than half of the total amount spent on Tesla products by xAI during all of 2025.
Combined with the latest 2026 purchases, SpaceX and xAI have now spent nearly US$1 billion on Tesla products and services since 2024, including roughly US$699 million specifically tied to Megapack installations.
The batteries are helping power xAI’s massive AI campuses in Memphis, Tennessee, and Southaven, Mississippi. SpaceX describes the facilities as hosting the world’s largest Megapack deployment, supporting approximately 1 gigawatt of AI compute capacity.
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