SpaceX has spent $329 million on Tesla Megapack battery storage systems so far in 2026, with $295 million of that coming in the second quarter, according to Tesla’s earnings report.

The purchases highlight the increasing financial interconnections among Elon Musk’s companies: Musk is CEO and largest shareholder of both SpaceX and Tesla.

Earlier in 2025, Musk’s AI company xAI acquired his social media platform X, and later in the year SpaceX acquired xAI.

The Megapacks are likely being deployed at xAI‘s data centers, which require large amounts of power for AI training and inference.

Before merging with SpaceX, xAI had already purchased $430 million worth of Megapacks for its data centers.

The article also notes that SpaceX had acquired $131 million worth of Tesla Cybertrucks at MSRP as of December 2025.

Batteries like the Megapack serve a critical role in AI data centers by providing backup power that can be tapped in under a second and by smoothing out power demand peaks, which helps lower utility costs and avoid overloading on-site generators.

However, the article also notes that xAI has relied heavily on natural gas, including unpermitted turbines at a Mississippi site near its Colossus data center, to power its facilities.