Elon Musk says special committees are discussing a possible SpaceX–Tesla merger

Elon Musk announced that special committees at SpaceX and Tesla have been formed and are holding talks about a possible merger of the two companies, calling the idea “a good one” while stressing that any deal would depend on those committees and shareholder approval.

Market reaction and deal mechanics

The suggestion of a tie-up pushed shares of both companies up about eight percent in after-hours trading, after SpaceX earlier this year moved to list publicly and reported its first trading profit. Musk said he could not take part in the committees’ deliberations because of a conflict of interest.

Musk added that the special committees were created at the request of shareholders and that they have not yet agreed on transaction terms — and might never do so. He said, "I think that would be a good idea, but the final decision depends on the special committees of the two companies. Because I have a conflict of interest, I cannot participate in the discussions of the special committees."

Musk argued there are strong strategic reasons for a closer corporate tie. "I do think there is strong justification for combining the companies, because we are effectively entering a singularity of superintelligence. There are major gains from collaborating on superintelligence software development, chip design, the 'Terafab' project, robotics, mass transport into orbit via 'Starmind', as well as on connectivity," he said.

SpaceX said its Terafab chip project is expected to produce a first prototype around May or June next year, with serial production targeted for the third quarter of 2028.

The two companies’ finances also underscore the shift toward artificial intelligence: SpaceX’s third-quarter revenue rose 161 percent to $14.58 billion year‑on‑year, with AI-related revenue climbing nearly tenfold to $7.56 billion, driven largely by leasing data‑center capacity to AI developers rather than by in‑house models. Capital expenditures surged, nearly tripling to $19.6 billion, and the company expects fourth‑quarter capex of $35–40 billion, according to its chief financial officer. Analysts note that a merger could give Musk near‑total control of the combined business: he owns almost one‑fifth of Tesla and slightly less than half of SpaceX.

Photo: Arhiva