SpaceX and Tesla Merger Logic Strengthened – "When Will They Merge" Becomes a Key Talking Point

Odaily reports that a decade ago, Musk believed the "connection" between SpaceX and Tesla was "weak," and there was insufficient reason for a merger. Now, market discussions have shifted from "whether they will merge" to "when they will merge," with long-term investors believing the merger is a foregone conclusion. Although Musk has not publicly confirmed it, he frequently mentions the "integration" of his ventures. SpaceX has also hinted in documents about potentially issuing a large number of shares, fueling speculation about a deal.

In recent years, both companies have pivoted toward AI: Tesla is betting on autonomous driving and humanoid robots, while SpaceX has acquired xAI and plans to deploy data centers in space. AI is expected to become SpaceX's largest revenue source starting this year. The business ties between the two have clearly strengthened. SpaceX disclosed it is purchasing batteries and Cybertrucks from Tesla, while Tesla, due to the xAI acquisition, indirectly holds equity in SpaceX. Although Musk denied the merger logic a decade ago, by 2025 he acknowledged synergies among the three in the fields of solar energy, AI, and satellites—a key technology in his view for "harnessing vast amounts of solar power." (Jin Shi)