Abstract:
Musk said that SpaceX and Tesla have formed a special committee to study a potential merger. If it ultimately goes ahead, it could become the largest corporate merger in history. Musk, who also serves as the CEO of both companies, said on Tuesday during the SpaceX earnings call: "I think there are many benefits to the merger of the two companies, and cooperation in developing super-intelligent software will be of great benefit."
If the two companies merge, Tesla's electric vehicle, energy and robotics businesses will be integrated with SpaceX's rocket launch and Starlink businesses. The important logic behind this potential transaction is the two companies’ common layout in the field of artificial intelligence.
After SpaceX announced its quarterly results, its stock price rose 4.5% in after-hours trading, and Tesla's stock price rose 1%.
The scale of the potential merger would be staggering. SpaceX and Tesla are both among the world's largest companies by market capitalization and occupy important positions in their respective industries. SpaceX has a market value of approximately US$2 trillion, and Tesla’s market value is close to US$1.5 trillion.
The two companies currently have multiple business ties and have overlapping investor bases. SpaceX has purchased the Tesla Cybertruck worth more than $100 million, and xAI is an important customer of Tesla’s energy storage business.
Since SpaceX completed its record-breaking IPO this year, the market has been widely expected to integrate the two companies. However, Musk emphasized that the merger is not a done deal and requires shareholder support. He said Tesla needs 50% approval from all shareholders, not just a majority of voting shareholders.
Musk said: "Some people think that the merger of SpaceX and Tesla is a foregone conclusion. I think this statement is exaggerated."
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