Overview
- Tesla disclosed in an amended 10-K uploaded Thursday that it booked $573 million in 2024 revenue from sales to SpaceX and xAI.
- The filing breaks out $430.1 million from xAI and $143.3 million from SpaceX, a figure Tesla did not include in its January annual report.
- Most xAI purchases were Megapack battery systems used for data centers, while SpaceX revenue came mostly from vehicle sales.
- Tesla also invested $2 billion into SpaceX and xAI and paid them $15.4 million for commercial and consulting services.
- The intercompany business continued into 2025, with Tesla recognizing $78.1 million more from xAI through February as SpaceX’s acquisition of xAI increased investor concern over conflicts of interest.