The boards of directors at SpaceX and Tesla have established special committees to evaluate a potential merger between the two companies. These committees are composed entirely of independent directors and were formed following requests from shareholders, according to CEO Elon Musk.
Musk, who is the largest individual shareholder in both companies, stated that he is excluded from the committee discussions due to a conflict of interest. He noted that while he supports the merger, the outcome is not guaranteed and remains subject to shareholder approval.
The committees have not yet reached an agreement on transaction terms. Musk highlighted that a merger would require support from a majority of Tesla shareholders. At SpaceX, where Musk holds over 50% of the voting power, the process for securing shareholder support is expected to be more straightforward.
Musk cited potential synergies in artificial intelligence development, robotics, and shared infrastructure projects as reasons for the merger. Specific initiatives mentioned include the orbital AI data center project Starmind and the joint chip manufacturing venture known as Terafab.
