SpaceX has emerged as a significant customer for Tesla, purchasing approximately $329 million worth of Tesla Megapacks in the first half of 2026, including $295 million in the second quarter alone. This demand is driven by the increasing power requirements for artificial intelligence (AI) computing, with electricity demand fluctuating by as much as 70% during AI training runs.
Tesla’s energy storage deployments reached 13.5 GWh in Q2 2026, marking a 53% increase from the previous quarter. However, the energy gross margin dropped to 20.4% due to various factors, including a $240 million warranty adjustment and heightened competition. Tesla aims for a long-term energy storage margin in the low-to-mid 20% range. SpaceX plans to develop 20 GW of power capacity by the end of 2027, presenting a substantial growth opportunity for Tesla’s energy sector.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
