Elon Musk has backed the idea of merging Tesla with SpaceX, a transaction that could create a technology group valued at roughly $3.5 trillion and bring electric vehicles, space exploration, artificial intelligence and social media operations under one corporate structure. Musk said the proposal was a “good idea” during SpaceX’s third-quarter earnings call, while stressing that no agreement has been reached and that the deal is far from certain.
Independent committees are reviewing the proposal
According to Cointelegraph, shareholders at both companies requested that Tesla and SpaceX establish special committees made up of independent directors to examine a possible combination. Musk said the committees are discussing the idea, but he cannot participate in those talks because he would be considered a conflicted party.
The proposed merger would place Tesla within the same corporate group as SpaceXAI, the developer of Grok and formerly known as xAI, as well as X, the social media platform acquired by SpaceX in February. It would therefore combine businesses spanning vehicle manufacturing, satellite and space activity, artificial intelligence and online communications.
Musk described several possible areas for cooperation, including the development of superintelligence software, chip design, the Terafab, robotics, mass-to-orbit operations linked to the Starmind constellation and connectivity. These areas reflect the increasingly interconnected role that artificial intelligence plays across the companies in Musk’s technology group.
However, Musk cautioned against treating a merger as inevitable. The independent committees have not agreed on the terms of a transaction, and there is no guarantee that discussions will result in a deal. He also said shareholder approval would be required, particularly at Tesla, where the proposal would need the support of 50% of all shares rather than simply 50% of shares voted. That requirement would make approval a significant hurdle.
SpaceX’s AI business becomes its largest revenue segment
Musk’s comments came after SpaceX reported a sharp increase in third-quarter revenue. The company’s total revenue rose 161% from a year earlier to $14.6 billion.
The biggest contributor was its “Super Intelligence” AI segment, which generated $7.6 billion in revenue during the quarter. That represented an 830% increase compared with the same period a year earlier and made AI SpaceX’s largest revenue segment.
SpaceX attributed the growth to the activation of new cloud-services agreements, the acquisition of Cursor and wider use of its Grok agentic AI model by enterprise and consumer customers. An agentic AI model is designed to carry out tasks or sequences of actions, rather than only respond to individual prompts, although the source material does not provide further operating details about the product.
The results give financial weight to Musk’s emphasis on closer cooperation among his companies. While Tesla is primarily associated with electric vehicles and SpaceX with space exploration, the earnings figures show that AI has become a major commercial component of the wider business group.
A combined company would hold more than 30,000 Bitcoin
The proposed combination would also bring together the companies’ Bitcoin holdings. SpaceX reported 18,712 BTC as of June 30, while Tesla reported 11,509 BTC on the same date in their respective quarterly filings.
Together, those disclosed holdings amount to 30,221 BTC. Based on that total, the combined business would rank as the sixth-largest public Bitcoin treasury company, ahead of crypto exchange Bullish.
The Bitcoin figures describe holdings reported by the two companies and do not indicate that any transaction has been agreed. They also do not provide a current dollar value for the assets.
Moneyiar market picture
Moneyiar market data at the stated times showed the following prices and performance:
- FORM: $0.2506273446, up 2.19% over 24 hours and down 7.79% over seven days, as of October 21, 2026, at 08:39 +03:30.
- WOULD: $0.0351412837, up 0.33% over 24 hours and up 10.6% over seven days, as of September 22, 2026, at 21:04 +03:30.
- VELO: $0.0041544506, up 3.81% over 24 hours and down 10.02% over seven days, as of October 21, 2026, at 08:39 +03:30.
- SPACE: $0.0051401108, up 6.94% over 24 hours and down 1.57% over seven days, as of August 29, 2026, at 17:13 +03:30.
These market figures are supplied by Moneyiar and are separate from the proposed corporate transaction. Musk’s support for the idea is not a confirmation that Tesla and SpaceX will merge, and the proposal remains subject to committee negotiations and shareholder approval.
