SpaceX has bought $329M worth of Tesla Megapacks so far this year

SpaceX has significantly increased its investments in Tesla Megapack battery storage devices, spending $329 million on them this year alone, as per the company's earnings report released on Tuesday. This purchase underscores the interconnected nature of Elon Musk's various businesses, with SpaceX and Tesla being run by the same CEO and largest shareholder.

The Megapacks are likely being installed at SpaceX's xAI data centers, which were acquired earlier this year from xAI, a business Musk also founded. Prior to the merger, xAI had spent $430 million on Megapacks for its data centers, compared to just $34 million in the first quarter of this year. In the first quarter, SpaceX also purchased $131 million worth of Tesla Cybertrucks at their manufacturer's suggested retail price, as reported in a regulatory filing.

Despite xAI's heavy reliance on natural gas for its data centers, batteries like the Megapack remain crucial, providing rapid backup power and additional energy to GPUs during model training and inference, helping to reduce utility charges and prevent generator overload.