You May Also Like
Wall Street has predicted that the announcement of a merger between Tesla and space company SpaceX led by Elon Musk (pictured) could come as early as this year. Amid the expansion of cooperation between the two companies in the artificial intelligence (AI) and semiconductor businesses, shareholder approval was cited as the biggest variable for the merger.
According to Bloomberg on the 14th (local time), the Barclays analysis team led by analyst Dan Levy analyzed that the merger between Tesla and SpaceX could be announced before Tesla’s annual shareholders’ meeting. Barclays predicted that Tesla’s shareholders’ meeting this year will be held by December 6 at the latest. However, the two companies have not officially announced their merger plans.
Barclays recently assessed that the potential for Tesla and SpaceX to integrate is increasingly becoming a general expectation in the market. He also said that if the announcement of the merger is delayed until late October or early November, the schedule for approval of the merger proposal at the general shareholders’ meeting could be tight.
Barclays believes that the core of the merger lies in the vertical integration of AI technology rather than simple financial synergies. Tesla, SpaceX, and SpaceXSI are pursuing a semiconductor production project called “Terrafab” in Austin, Texas. One is to produce chips for Tesla cars and humanoid robot Optimus, and the other is to produce semiconductors for space AI data centers. Musk has emphasized the need for self-production, saying that it is difficult to meet the long-term chip demand of his companies only by supplying existing semiconductor companies.
Transactions between the two companies are already considerable. According to data released by Tesla this year, sales to SpaceX and SpaceXSI totaled $573 million last year. Of these, SpaceX-related sales were $143.3 million and SpaceXSI was $430.1 million. Musk also recently made remarks to the effect that Tesla and SpaceX’s business areas overlap in various fields, adding to the observation of the merger. Since SpaceX raised $75 billion through an initial public offering (IPO) in June, setting a record for the largest IPO ever, market interest surrounding the future relationship between the two companies has also grown.
However, the threshold of shareholder approval remains until the actual merger.
[Reporter Kim Deoksik]
#
