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Musk Hints at Merging Tesla and SpaceX on Earnings Call: One Trillionaire, One Company for Cars, Robots, Rockets, and AI
On Tesla's Q2 2026 earnings call, Elon Musk said there is 'more and more overlap' between Tesla and SpaceX and deferred merger questions to lawyers — the closest he has come to confirming consolidation talk that exploded after SpaceX's $2 trillion IPO made him the world's first trillionaire. Tesla posted record deliveries but negative free cash flow as capex triples toward $25 billion for Optimus, Robotaxi, AI compute, and the Terafab chip project with SpaceX and Intel.
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