Musk reignites Tesla-SpaceX merger speculation at All-In Summit
Elon Musk left the door open to a Tesla-SpaceX merger at the All-In Summit on September 15, calling the question of why the companies stay separate a 'great question' and saying to 'imagine what action one might take' given how closely they collaborate — he gave no timeline or structure. SpaceX president Gwynne Shotwell, at the same event, said the teams are integrating 'faster than I thought' but 'not fully integrated yet,' the most specific comment yet on how far the combination has actually progressed.
Speculation about a Tesla-SpaceX merger picked up after Musk told Tesla's Q2 earnings call on July 22 that there was 'more and more overlap' between the companies. Two months later, his All-In Summit remarks extend that theme — but this time a SpaceX executive put a specific description on how far the integration has actually gone.
Asked why Tesla and SpaceX remain separate, Musk sidestepped with 'great question,' then added: '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 again offered no timeline, structure or formal process for any deal.
Shotwell, speaking separately, said the two companies' teams are integrating 'faster than I thought' while cautioning they're 'not fully integrated yet.' She pointed to shared work across AI, compute, solar panel manufacturing, chips, energy and data centers — the same infrastructure Tesla's FSD and Optimus lean on, and that SpaceX needs for Starlink, Starship and its orbital-computing plans.
For Tesla shareholders, a merger would carry real valuation and share-structure implications, but with neither Musk nor Shotwell committing to a timeline or terms, this remains speculation. Any formal deal would still require board approval and a valuation process before it could move forward.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.