Build a $3 trillion super giant? Reports say Musk is interested in merging Tesla and SpaceX, and if successful, the new entity would hold 30,000 BTC.

Elon Musk's "Ultimate Business Empire" Is Coming Together? According to CNBC, Musk is actively evaluating a historic merger between Tesla and the upcoming IPO of SpaceX. With SpaceX recently successfully integrating xAI, sharing AI computing power, engineering talent, and materials has become routine for the two giants. Wall Street analysts are optimistic, estimating an 80% chance of the merger, believing it will create a "super tech conglomerate" spanning autonomous vehicles, aerospace, robotics, and Starlink. Additionally, the combined entity will hold about 30k Bitcoin, directly entering the top five global corporate Bitcoin holders.
(Background: SpaceX to go public, Musk challenges the world's first "trillion-dollar billionaire" Muskonomy ecosystem taking shape)
(Additional context: Musk's close friend Antonio Gracias becomes the biggest winner in SpaceX's IPO! His net worth could surge by hundreds of billions, but behind the scenes, a $20 billion related-party transaction minefield lurks)

Table of Contents

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• Highly overlapping resources, AI and computing power as merger catalysts
• Wall Street optimism: new group will hold 30k Bitcoin
• Potential obstacles to the historic union: valuation swaps and geopolitical issues

Elon Musk's ultimate business empire puzzle seems to be迎來最震撼的變局。

According to CNBC's latest report on May 27, 2026, Musk is in close discussions with insiders about considering a "fold" merger of his two most representative companies—electric vehicle giant Tesla and space exploration company SpaceX.

This news has long been a hot topic within Tesla, and as the market highly anticipates SpaceX's imminent listing on NASDAQ (expected stock ticker SPCX), the discussion of this historic merger is heating up rapidly.

Highly overlapping resources, AI and computing power as merger catalysts

Why merge? From a business logic perspective, these two companies have already demonstrated extremely high "synergy effects" behind the scenes.

Currently, Tesla and SpaceX not only share engineering talent deeply (e.g., Vice President of Materials Engineering), but also have close business exchanges: SpaceX purchases大量採購特斯拉的 Megapack 儲能設備與 Cybertruck, while Tesla uses SpaceX's exclusive alloy materials. More critically, both face huge "AI and computing power" demands:

• AI capital expenditure astonishing: SpaceX's Q1 capital expenditure over 75% related to AI; Tesla's annual capital expenditure is expected to surpass $25 billion.
• xAI assistance: SpaceX recently completed a merger with Musk's AI startup xAI. If Tesla joins, it will perfectly consolidate computing power, data, and technical resources, greatly simplifying management layers.

Wall Street optimistic: new group will hold 30k Bitcoin

Wedbush analyst Dan Ives expressed optimism, estimating an 80% probability of the merger after SpaceX completes its IPO.

If the plan materializes, it will create an "invincible tech giant" spanning AI, humanoid robots, space aerospace, and Starlink network. Notably, the combined company will directly inherit both sides' digital assets, totaling about 30k BTC, leaping into the top five corporate Bitcoin holders worldwide.

Potential obstacles to the historic union: valuation swaps and geopolitical issues

Despite the grand vision, bringing two trillion-dollar market cap giants into one cage still faces extremely complex challenges:

2. Sky-high valuation swap difficulties: Tesla's current market cap is about $1.6 trillion, while SpaceX's IPO valuation is expected between $1.25 trillion and $1.75 trillion. How to calculate the share swap ratio? Who is the "surviving company"? This will be a major hurdle in financial restructuring.
3. Minority shareholder resistance: Some investors, including Ron Baron, are cautious, worried that such operations could trigger "self-dealing" conflicts of interest and legal disputes.
4. Severe geopolitical scrutiny: SpaceX holds top-secret contracts with NASA and the Department of Defense; Tesla relies heavily on Chinese supply chains and consumer markets. The merger will inevitably trigger sensitivities among US national security and antitrust regulators.

Currently, the plan remains at the senior management discussion stage, and Musk has not publicly confirmed it. But this strategic vision, perfectly fitting his "multi-threaded" mad genius style, has already filled Wall Street and the global tech scene with endless imagination.