Tesla’s xAI, SpaceX deals drive $573M revenue

Tesla Inc. generated more than $573 million in revenue last year from selling products to two other companies owned by Elon Musk, according to an amended annual filing, News.Az reports, citing Bloomberg.

The majority of that revenue—around $430.1 million—came from transactions with xAI, Musk’s artificial intelligence venture, a figure Tesla had first disclosed in January.

In a revised filing submitted on Thursday, the automaker revealed an additional $143.3 million in revenue tied to business with SpaceX, Musk’s privately held rocket manufacturer.

This figure related to SpaceX had not been included in Tesla’s original annual filing released earlier in the year. Earlier in April, Bloomberg News reported that SpaceX likely purchased more than $100 million worth of Cybertrucks—Tesla’s electric pickup model—during the fourth quarter of last year.

Musk’s companies have long maintained close operational and financial ties, including shared personnel, investment links, and commercial agreements. xAI has been purchasing Tesla’s Megapack energy storage systems, while Tesla has incorporated xAI’s Grok chatbot into its vehicles. Musk has also recently outlined plans for Tesla and SpaceX to collaborate on a semiconductor manufacturing initiative.

In February, SpaceX completed the acquisition of xAI, bringing together capabilities in rockets, satellite systems, artificial intelligence, and potential space-based data infrastructure. The combined entity is now reportedly preparing for what could become the largest initial public offering ever, targeted for late June.

Tesla’s business with Musk’s affiliated companies has continued into the current year. In its latest filing, the company disclosed that it recorded approximately $78.1 million in revenue from xAI through February.

News.Az 

By Nijat Babayev