Musk Deflects Tesla-SpaceX Merger Question on Earnings Call, Cites Growing Overlap
During Tesla's Q2 2026 earnings call, Elon Musk deflected a direct question about a potential merger between Tesla and SpaceX, stating such discussions cannot occur on an earnings call without proper process. However, he acknowledged 'more and more overlap' between the companies, citing Starlink integration into Tesla vehicles and the TeraFab AI chip venture involving Tesla, SpaceX, and xAI (now SpaceXAI). Tesla's general counsel noted 'numerous beneficial transactions' between the firms. The call also revealed Tesla missed earnings expectations (33 cents per share vs. 55 cents estimated) despite beating revenue forecasts ($28.2B vs. $27.2B), and reported its first negative free cash flow in over two years. Analysts and betting markets have placed high odds on a merger by 2027, with SpaceX president Gwynne Shotwell previously acknowledging synergies between the companies.
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