SpaceX · Tesla · Elon Musk · xAI · CNBC Technology
SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq
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As Elon Musk prepares to lead a second trillion-dollar company into the public market, a move that will likely put him in charge of two of the 10 most valuable U.S. enterprises, chatter is building that Musk's ultimate goal is to combine the entities into one.
Key facts
- SpaceX said in its prospectus that it bought $697 million worth of Tesla's Megapack battery energy storage systems in 2024 and 2025 to power the data centers owned and operated by xAI in the area
- SpaceX has linked Musk's compensation rewards to two milestones: achieving a $7.5 trillion market cap and colonizing Mars with at least 1 million inhabitants
- In January, Tesla revealed it had invested $2 billion in xAI
- SpaceX also has an agreement on the table to purchase AI coding startup Cursor for $60 billion
Summary
SpaceX is expected to start trading on the Nasdaq in over two weeks after obtaining a private market valuation of $1.25 trillion earlier this year, when it merged with xAI, Musk's artificial intelligence company. The two companies already have a laundry list of shared resources, and Musk has discussed with colleagues the possibility of folding the companies together, according to people familiar with the talks who asked not to be named due to the sensitivity of the topic. A current Tesla employee told CNBC that many workers at the electric vehicle company have long expected such a transaction to eventually take place and that the topic is openly discussed internally.