根據外媒報導，Elon Musk 在 5 月 26 日與同事討論了將 SpaceX 與 Tesla 進行合併的可能性。5 月 26 日收盤時，Tesla 股價上漲約 2%，盤後交易中又進一步走高。此輪合併討論發生在 SpaceX 準備首次公開募股之際，再度引發市場對 Musk 兩家旗艦公司潛在合併的關注。
近年來，Tesla 與 SpaceX 之間的合併猜測曾時不時浮出水面。據報導，許多 Tesla 員工長期以來都期待可能的合併，且公司內部曾進行相關討論。消息人士指出，兩家公司因在電力供應與運算能力方面面臨的共同挑戰而進行了定期合作。
Personnel and Ownership Interconnections
Musk and his brother Kimbal Musk, along with venture capitalist Aria Ehrenprice, serve simultaneously on the boards of both companies. SpaceX board members Antonio Gracias and Steve Jurvetson previously worked at Tesla. Charles Kooman holds the position of vice president of materials engineering at both Tesla and SpaceX.
In January 2025, Tesla announced a $2 billion investment in xAI, Musk's artificial intelligence company. xAI subsequently merged with SpaceX and was renamed SpaceXAI, converting Tesla's shareholding into equity in SpaceX.
Business Transactions and Collaboration
SpaceX purchased $697 million worth of Tesla Megapack battery storage systems during 2024 and 2025 to power its Colossus supercomputer cluster located in Memphis, Tennessee. In 2025, SpaceX also spent $131 million purchasing Tesla Cybertruck pickups.
Prior collaborations include Tesla selling solar equipment and automotive components to SpaceX, while SpaceX developed specialized alloy materials for Tesla's Cybertruck.
Artificial Intelligence Focus
Artificial intelligence represents a shared strategic focus for both companies. SpaceX's first-quarter capital expenditure of $10.1 billion included more than 75% allocated to AI-related projects. Tesla's latest financial report indicated that 2025 capital expenditure would increase by nearly three times, exceeding $25 billion, to support new factory construction and AI infrastructure development.
分析師預測與 IPO 時程
在 Wedbush Securities 擁有影響力的 Tesla 多頭 Dan Ives 預測，在 SpaceX 提交 S-1 之後，SpaceX 與 Tesla 將於 2027 年合併。Ives 指出，Tesla 已持有 SpaceX 股權，而雙方共同營運的 Terafab 工廠進一步加深了兩家公司之間的業務整合。
在 5 月 20 日，SpaceX 向美國證券交易委員會提交了註冊聲明。SpaceX 將以 SPCX 這個代號在 Nasdaq 上市。路演預定 6 月 4 日進行，6 月 11 日定價，6 月 12 日掛牌上市。
若 SpaceX 成功進行 IPO，將使 Musk 有機會領導美國市值最高的前 10 家公司中的兩家。目前 Tesla 的市值超過 1.6 兆美元，而 SpaceX 的市值估值介於 1.75 兆美元至 2 兆美元之間。
