Musk's Two Empires Report This Week: SpaceX-Tesla Merger Talk Heats Up

Musk

Elon Musk's two most valuable companies report earnings back-to-back this week — and investors will be watching for clues about something much bigger: a possible mega-merger between SpaceX and Tesla. Reuters reports that merger speculation is gathering momentum, with Barclays suggesting a deal could be announced before Tesla's annual shareholder meeting on December 3.

The results will test whether Starlink's steady revenue growth and Tesla's car profits can bankroll Musk's huge AI spending plans. SpaceX absorbed Musk's AI company xAI in February before its June IPO, and both empires are now pouring money into artificial intelligence. In an all-stock deal, analysts estimate Musk could end up with about 37% of the combined company's shares and 56% of its votes, with SpaceX the likelier acquirer.

Musk gave the merger talk a showpiece last Thursday, unveiling a new Tesla Roadster — slated for production in 2028 — that can jump and flip mid-air using rocket technology at a SpaceX test site in Texas. 'Musk is blending the future of mobility together,' one analyst said, calling the timing ahead of the shareholder meeting 'no coincidence.'

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