SpaceX–Tesla Talks Advance, Announcement Possible in December or Early 2027
Key Facts
Talks between SpaceX and Tesla on a potential combination are advancing, and an announcement could come in December or be delayed until early 2027, according to a Bloomberg News report published on 12 November, citing people familiar with the discussions. That places a possible announcement within a near-term window, but does not mean a definitive agreement has been reached. SpaceX disclosed to the U.S. Securities and Exchange Commission that its special committee had made no decision on any potential combination. Any agreement would require approval from the committee, the board and the controlling shareholder, according to the disclosure. The company also said there was no assurance that an agreement would be reached or a transaction completed.
The disclosures show that consideration of the relationship is proceeding through a formal process that has not reached a final decision. Tesla said its special committee would consider deepening its relationship with SpaceX, which could include a commercial transaction. The company said any transaction would depend on a positive recommendation from the committee and the required shareholder approvals. Those conditions align with SpaceX's disclosure, which requires approval from its committee, board and controlling shareholder. In this context, December or early 2027 remains a possible announcement window, according to Bloomberg, not a confirmed date for completing a deal.
The talks follow existing commercial and investment ties between the two companies. Tesla recorded revenue of 221 million dollars from Megapack product sales to SpaceX in the three months ended 30 September 2026, and 626 million dollars in the nine months ended on the same date. SpaceX, in turn, disclosed Megapack purchases of 151 million dollars in the third quarter and 480 million dollars in the nine-month period. Tesla's records as of 30 September showed 729 million dollars in receivables from SpaceX, alongside deferred revenue of 648 million dollars tied to Megapack obligations that had not yet been fulfilled. Tesla also invested 2.00 billion dollars in SpaceX common stock in March 2026, representing a stake of less than 1%.
SpaceX's quarterly results provide context for the scale of its business as the talks advance. Revenue was 14,575 million dollars in the third quarter of 2026, compared with 5,576 million dollars in the same period of 2025, an annual increase of 161.4%. Net income rose to 4,404 million dollars, after the company posted a net loss of 1,054 million dollars in the third quarter of the previous year. The disclosure showed that the SI segment generated revenue of 7,560 million dollars, compared with 813 million dollars a year earlier, while the Connectivity segment recorded revenue of 5,248 million dollars. These figures put revenue growth in the context of the company's results, without setting out terms for any potential combination with Tesla.
In its satellite internet business, the number of Starlink consumer subscribers rose to 13.6 million as of 30 September 2026, from 7.2 million on the same date a year earlier. This shows the subscriber base expanded during the period covered by the quarterly results. The figures remain part of SpaceX's financial and operating disclosures, while the special committee's decision on any potential combination remains unresolved. Bloomberg's report did not say whether Starlink's growth or the segment results formed a basis for deal terms. Market-close data provided to EL7 put Tesla shares at 397.45 dollars and SpaceX shares at 139.94 dollars on 12 November.
Among the upcoming corporate dates, Tesla's notice set its annual shareholder meeting for 3 December 2026 at 3:00 p.m. Central Time. The meeting falls in the same month Bloomberg cited as a possible announcement window, though the notice did not link the meeting to the talks. Shares in both companies had risen on 21 October, after the announcement that special committees had been formed to study a merger; Tesla gained more than 3% and SpaceX rose 11% that day, according to a Reuters report via Investing.com. The report estimated that SpaceX's market value would have increased by about 210 billion dollars had the gains continued. According to the disclosures, the talks remain subject to internal reviews and approvals, while an announcement remains possible in December or could be delayed until early 2027.