xAI bought $269M of Tesla Megapacks in 2026; Musk says Tesla 'almost sold out' of Megapacks for 2027
What happened
Details from Tesla's Q3 2026 earnings call disclosed that xAI purchased $269 million of Tesla Megapacks in 2026, and that Tesla's storage demand is at its 'highest-ever order rate and backlog,' driven by data centers. CFO Vaibhav Taneja said the Q3 energy gross margin jump to 33.1% came 'primarily' from tariff refunds and warranty true-downs from a vendor reimbursement agreement. Elon Musk said Tesla is 'almost sold out of all Megapacks for 2027' and expects margins on them 'to increase meaningfully.'
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Start your free 14-day trialWho’s affected
- Tesla (TSLA) - energy/storage segment; record order rate and backlog, data-center-driven demand
- Energy storage and data-center power/infrastructure plays - AI data-center power demand theme
Sources