SpaceX and Tesla merger logic strengthens, "When will they merge" becomes a focus of discussion

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

Both companies have pivoted towards AI in recent years: 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, with SpaceX disclosing that it purchases batteries and the Cybertruck from Tesla, and Tesla indirectly holds an equity stake in SpaceX due to the xAI acquisition. Although Musk dismissed the logic of a merger a decade ago, in 2025 he acknowledged that the three share synergies in the field of solar AI satellites—which he sees as a key technology for "harvesting massive amounts of solar energy." (Jinshi)