Tesla Discloses $573M Musk Company Transactions

Tesla disclosed hundreds of millions of dollars in related-party transactions with companies owned by Elon Musk, including SpaceX and xAI, in an amended annual filing submitted to the U.S. Securities and Exchange Commission on April 30.

The updated 10-K report detailed $573.4 million in revenue Tesla recognized in fiscal year 2025 from those entities, primarily through sales of Megapack energy storage systems to xAI and vehicles to SpaceX. Revenue from xAI totaled $430.1 million, mainly from Megapacks used to power the artificial intelligence company's data centers. SpaceX contributed $143.3 million, largely from purchases of Cybertrucks; registration data indicated SpaceX accounted for about one in five U.S. Cybertruck registrations in the fourth quarter of 2025 and bought 1,279 in that period alone.

The SpaceX revenue figure had not appeared in Tesla's original January filing. Tesla also reported an additional $78.1 million in revenue from xAI through February 2026, signaling ongoing business.

Transactions flowed in both directions. Tesla incurred $24.8 million in expenses to Musk-affiliated companies, including $11.4 million to SpaceX for commercial, licensing, and support...