SpaceX’s IPO filing revealed how deeply Elon Musk’s companies are connected behind the scenes.
The filing shows SpaceX and xAI bought nearly $700 million worth of Tesla Megapacks across 2024 and 2025, along with $131 million worth of Cybertrucks in 2025 alone.
The purchases were classified as “related party transactions,” meaning deals between companies tied to the same owner or leadership group.
Analysts say the spending itself is not unusual. SpaceX needs energy storage systems and utility vehicles for its operations, so buying from Tesla can make practical business sense.
However, one detail stood out: SpaceX reportedly bought the Cybertrucks at full retail price instead of receiving a bulk discount, something companies usually negotiate on large purchases.
Based on Tesla’s pricing, the purchase likely included between 1,100 and 1,800 Cybertrucks. That could represent roughly 6% to 9% of all Cybertruck sales in 2025.
The filing also revealed broader cooperation between Musk’s companies, including Tesla ad spending on X, joint chip factory plans, and voice-assistant development for Tesla vehicles.