SpaceX Tesla Megapack purchases reached $295 million in Q2

SpaceX Tesla Megapack purchases totaled $295 million in the quarter ended June 30, 2026, according to reporting on the company’s financial disclosures. That brought first-half spending to $329 million, a sharp increase in battery-storage buying tied to the company’s AI data-center buildout in Greater Memphis.

The transaction matters to investors because it adds a sizable disclosed sale for Tesla’s energy-storage business while underscoring the commercial links among companies led by Elon Musk. CNBC reported that the Megapacks are being installed to help power SpaceXAI’s Colossus data centers in the Memphis area.

A Megapack is Tesla’s large-scale battery-storage system, designed for commercial and utility projects. Batteries can store electricity for later use, provide backup power and help a facility handle sudden jumps in demand without relying entirely on the grid or on-site generation.

Why is SpaceX buying Tesla Megapacks?

AI data centers can have uneven electricity needs because computing equipment draws different amounts of power as it trains models and runs queries. TechCrunch reported that large batteries can respond quickly with backup electricity and help smooth those demand peaks, which might otherwise raise utility costs or strain on-site generators.

The systems do not identify the source of the electricity they store. CNBC reported that the Colossus and Colossus 2 facilities in Greater Memphis have also used dozens of natural-gas-burning turbines for power generation.

Q2 accounted for most of the year’s disclosed spending

The first-half total implies about $34 million of Megapack purchases in the first quarter. On that basis, the $295 million spent in Q2 was about 8.7 times the first-quarter amount and represented roughly 90% of the $329 million disclosed for the first six months of 2026.

CNBC also reported that SpaceX bought $506 million in Megapack products during 2025. Separately, Electrek, citing an amended SpaceX registration statement, reported xAI purchases of $191 million in 2024, $506 million in 2025, $34 million in the first quarter of 2026 and $269 million in April. Those figures concern xAI’s purchases and should not be combined with SpaceX’s disclosed 2026 total as though they were the same transactions.

What does the purchase mean for Tesla?

Tesla’s official second-quarter update reported $3.139 billion in energy-generation-and-storage revenue, up 13% from a year earlier, and 13.5 gigawatt-hours of storage deployments, up 41%. The company also said it expected to begin production of Megapack 3 and Megablock, a configuration combining four Megapacks with one transformer, at its Texas Megafactory during 2026.

The purchase is a related-party transaction involving Musk-led companies, a point that makes the disclosure relevant beyond its dollar amount. It shows a direct customer relationship between SpaceX’s expanding AI infrastructure and Tesla’s storage unit, though it does not establish what share of Tesla’s energy sales came from this order.

The reporting cited here discloses spending amounts but does not state the number of Megapacks, their energy capacity or the allocation of units among facilities.

This story draws on original reporting from CNBC.