Odaily Planet Daily report: Ten years ago, Musk believed there was weak synergy between SpaceX and Tesla, with insufficient justification for a merger. Today, market discussion has shifted from “whether a merger will happen” to “when it will happen,” with long-term investors viewing a merger as inevitable. Although Musk has not publicly confirmed it, he has frequently mentioned the “integration” of his businesses, and SpaceX has hinted in filings at the potential issuance of a large number of shares, fueling speculation about a deal.
In recent years, both companies have transitioned toward AI: Tesla has bet on autonomous driving and humanoid robots, while SpaceX acquired xAI and plans to deploy space-based data centers, with AI expected to become SpaceX’s largest revenue source starting this year. Their business ties have significantly strengthened—SpaceX has disclosed purchasing batteries and Cybertrucks from Tesla, and Tesla now indirectly holds SpaceX equity due to the xAI acquisition. Although Musk once rejected the logic of a merger a decade ago, in 2025 he acknowledged synergies among the three in the field of solar-powered AI satellites—a key technology he sees for “harnessing vast amounts of solar energy.” (Jin10)