SpaceX - Dark Stone Capital

And why Tesla shareholders should be paying very close attention to the fine print.

January 30, 2026

Something massive is brewing in Elon Musk's empire.

Over the past 48 hours, reports from Bloomberg, Reuters, and multiple sources have confirmed what many suspected: Musk is actively exploring merging SpaceX with Tesla, xAI, or possibly all three into a single mega-entity. Corporate filings in Nevada show two new "merger sub" entities were created on January 21st, with SpaceX's CFO listed as an officer.

This isn't speculation anymore. This is happening.

But here's what most coverage is missing: this deal isn't primarily

Executive Summary

Elon Musk's SpaceX and xAI are in active merger discussions ahead of SpaceX's planned blockbuster IPO, according to a Reuters exclusive report today. The combined entity would bring rockets, Starlink satellites, the X social media platform, and the Grok AI chatbot under one roof—creating what could become the most valuable publicly-traded company on Earth.

Key Numbers at a Glance:

Entity	Current Valuation	Revenue (Est. 2026)
SpaceX	$800B (Dec 2025 insider sale)	$22-24B
xAI	$230B (Nov 2025)	~$1B (heavily subsidized)
Combined (Standalone IPO)	$1-1.5T expected	$23-25B+

Entity

Current Valuation

Revenue (Est. 2026)

SpaceX

$800B (Dec 2025 insider sale)

$22-24B

xAI

$230B (Nov 2025)

~$1B (heavily subsidized)

Combined (Standalone IPO)

$1-1.5T expected

$23-25B+

The $3 Trillion Power Play: How Elon Musk Could Merge Tesla, SpaceX, and xAI Into the Most Valuable Company in Human History

SpaceX-xAI Merger Analysis: IPO Implications & Strategic Rationale

Executive Summary

Part 1: The Merger Structure

What

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Executive Summary

Part 1: The Merger Structure

What

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