Barclays analyst Dan Levy suggested in a client note that Tesla and SpaceX could announce a merger before Tesla’s annual shareholder meeting, which is expected by December 6. He cited the companies’ artificial intelligence (AI) technologies as the primary rationale, with their jointly developed Terafab semiconductor project as a potential catalyst.
The deal would likely involve SpaceX acquiring Tesla in an all-stock transaction, consolidating Elon Musk’s control over his AI ambitions. Musk’s ownership in the combined company is estimated at around 37%.
He could hold approximately 56% of the combined company’s voting power. Shareholder approval from both companies would be the most significant hurdle to a deal.