Tesla Inc. generated more than half a billion dollars in revenue last year from selling products to two of Elon Musk’s other companies, the carmaker disclosed in an amended annual filing.
The bulk of the sales — about $430.1 million — came from doing business with xAI, Musk’s artificial intelligence startup, Tesla first disclosed in January. In an amended filing uploaded Thursday, the automaker added that it also recognized another $143.3 million in revenue from the billionaire’s closely held rocket manufacturer SpaceX.
Tesla didn’t provide the latter figure in its initial annual filing released in January. Earlier this month, Bloomberg News reported that SpaceX likely had purchased more than $100 million worth of Cybertrucks, the company’s slow-selling electric pickup, in the fourth quarter of last year.Musk’s companies have long been intertwined through financial investments, business agreements and shared personnel. XAI purchases Megapack energy storage batteries from Tesla, while the car company has integrated xAI’s Grok chatbot into its vehicles. Musk recently unveiled plans for Tesla and SpaceX to collaborate on a chip production project.
SpaceX acquired xAI in February, bringing rockets, satellites, AI and plans for space-based data centers under one roof. SpaceX is now attempting to stage the biggest initial public offering of all time in late June.
Tesla kept cashing in from Musk’s other businesses early this year. In its latest filing, the company newly disclosed that it recognized about $78.1 million in revenue from xAI through February.
–With assistance from Dana Hull and Kara Carlson.More stories like this are available on bloomberg.com
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