On an October 21, 2026 Tesla earnings call, Elon Musk said a SpaceX-Tesla merger has merit because of overlapping AI work. Both boards formed special committees of independent directors, Musk is recused as a conflicted party, and approval would need 50 percent of all Tesla shares, not just those cast. Bloomberg reports he wants a deal announced by the first half of next year. Dan Ives puts the odds at 90 percent, RBC predicts a 20 to 30 percent premium for Tesla holders, and J.P. Morgan estimates S&P 500 inclusion would bring passive buying equal to about 10 percent of the combined company's free float. Governance concerns remain, including Musk's over 80 percent voting power at SpaceX.