Musk’s refusal to rule out Tesla-SpaceX combination revives merger speculation

  • Elon Musk again declined to rule out combining Tesla and SpaceX during All-In appearances.
  • SpaceX completed a June 2026 IPO described in the reports as the largest on record, easing the structure of a potential stock-for-stock deal.
  • Musk is living beside xAI’s Colossus supercomputer expansion in Memphis while Tesla, SpaceX and xAI deepen cooperation across chips, AI and connectivity.

Elon Musk again left open the possibility of combining Tesla and SpaceX, calling the question a "great question" during a September 15 All-In Summit appearance and later saying the companies’ deep cooperation made their future difficult to predict. He did not announce a transaction, and neither company has formally commented on a merger. Musk is living in an aluminum-shelled Airstream beside xAI’s expanding Colossus supercomputer operation in Memphis, Tennessee, highlighting his hands-on focus on artificial-intelligence infrastructure. SpaceX’s June 2026 initial public offering removed a major structural obstacle to a stock-for-stock transaction, while ties among the businesses have expanded through Terafab, Starlink connectivity, xAI’s corporate restructuring and shared AI, energy, chip and computing initiatives. Analysts cited in the reports estimate an 80% to 90% chance of a merger by 2027, although any deal would require formal board, shareholder and regulatory processes and could face substantial antitrust and governance scrutiny.

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