Musk hints again at possible Tesla-SpaceX merger

'Who can imagine what action one might take when there's so much close collaboration in so many areas,' Musk said Monday night.

By Pras Subramanian, Senior Reporter Tue, September 15, 2026 at 6:50 AM PDT | 2 min read

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Elon Musk once again hinted at a possible deepening of collaboration — perhaps even a merger — between his two major companies, Tesla (TSLA) and SpaceX (SPCX).

Speaking at the All-In Summit on Monday night, Musk said it was a great question whether the two companies would remain separate despite several avenues for collaboration.

"With all this collaboration, on so many levels, who can imagine what action one might take when there's so much close collaboration in so many areas," he said.

Yahoo Finance reached out to SpaceX regarding Musk's comments about a possible merger but did not immediately receive a response.

Not the First Time

This is not the first time Musk has spoken of this possibility. Reports suggested he had openly discussed a merger between the two companies prior to SpaceX's June IPO.

The topic also came up during SpaceX's Q2 earnings call, but Musk stopped short of confirming anything.

"As you can tell from all the many collaborations on so many fronts with SpaceX, and there's a lot. There's more and more overlap, especially with Terafab," Musk said. "But obviously, you know, we can't talk about combining companies on an earnings call. It's got to be done with the appropriate process."

Musk did not say a combination is not happening — only that an earnings call is not the venue to discuss it, and that any move would require a formal process.

Deepening Ties Between Tesla and SpaceX

The two companies Musk controls are already deeply intertwined, even financially:

• Equity stake: Tesla holds an equity stake in SpaceX.
• Framework agreement: Earlier this year, the companies entered a "framework agreement" governing future collaboration.
• SpaceX as Tesla customer: SpaceX has been a steady buyer of Tesla batteries, energy products, and Cybertrucks.
• AI integration: Tesla weaves SpaceX AI technology back into its own products. Grok, the AI model from Musk's xAI, is being embedded in Tesla vehicles and, Musk said, helping power the "digital" version of the Optimus robot.
• Starlink in vehicles: Starlink is being built into the Cybercab and is slated to roll out across the broader fleet to guarantee the connectivity Musk argues robotaxis need to operate autonomously "everywhere."

Terafab: The Biggest Area of Overlap

Musk called Terafab — the chipmaking venture — the biggest area of overlap between the two companies. He described it as a shared dependency, warning that Tesla "will be constrained in our ability to scale Optimus production" without it.

Upcoming Tesla Roadster Reveal

The upcoming Tesla Roadster reveal — slated for Oct. 1 — may feature SpaceX thruster technology, which in theory could enable the car to fly or hover for a short time.

Pras Subramanian is Lead Transportation Reporter for Yahoo Finance. You can follow him on X and on Instagram.

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