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Katie Wood expressed her opinion on the question many Tesla investors are asking : “When will Tesla merge with SpaceX?” ". Her answer? Not yet. She believes that Elon first wants investors to fully appreciate Tesla's capabilities in robotaxi before merging the companies. Okay, will SpaceX buy Tesla?
Boy, so many controversial issues. We tracked everything. It seems like everything is happening. The biggest one was an interview with Gwynne Shotwell, the president of SpaceX, and she was asked, " Could this happen?" She didn't say "no." She didn't say "no" without comment. She said three things, right?
She says: “ First of all, it would definitely make Elon Musk’s life a lot easier. Secondly, I definitely see the synergy of why this could make sense.” And third, she said something like, "I'm focused on my future right now, not this future." So that does n't mean it's going to happen this year, but it didn't.
She didn't say "no," but here's Katie Wood saying "no." She said " No". She says it's Tesla, and here's why. Let's listen to what she has to say. As a proud Tesla shareholder, I would like to hear your thoughts on the merger of Elon xAI and SpaceX. Do you think he's going to merge it with Tesla? How do you view all the work he does?
I think he might eventually. And he started... We've been using the word "convergence" for a long time in "I'll Talk About Our Big Ideas 2026," and you'll see a section by Brett Winton, our chief futurist, called "the great acceleration." And this... And you'll see a sphere there that shows how all these technologies converge with each other.
And at some point in the last, I'll say 6 weeks, Elon said, "You know what? I think my companies are convergence stories." So we were curious that he used that word. So SpaceX xAI doesn't surprise us at all. I think he's going to let Tesla work here for a while because the robo-taxi revolution is just getting started, and I think he wants to make this story very clear to investors.
And so it will be . He doesn't want to mix it up with anything and confuse what's going on here. Good. So, if it's true what she's saying, she might know some information. I do n't know. But, if that's the case, it means the announcement won't happen this month, maybe not even this year. What is your reaction to what she said?
I think the announcement could happen anytime between now and June next year. Yes. That's it. I have a feeling it will be sooner rather than later. Katie says it will be later, not sooner. Time will tell. Time will tell. I think, you know, pricing is extremely important. And it's not just SpaceX's pricing , considering they were a completely new player in the market.
This is also the pricing of Tesla's new businesses . Tesla is already launching three new businesses. And a few more in the long term. SpaceX already has three new businesses launching, and several more are preparing to launch. Therefore, it is difficult to predict when prices will be determined for each of these companies.
So I think that's the puzzle that needs to be solved. And before we figure it out, it will be very difficult to do a merger because there are so many unknowns with SpaceX, but there are still so many unknowns with Tesla. And look, Tesla as a public company is about 15-13 years old. SpaceX has barely been in existence as a public company for 13 days.
So that just gives you an idea of how difficult this whole merger is going to be, but it will happen. That's right. OK. Her logic was that she was positioning it the way Elon wanted it to be, to let the robotaxi revolution unfold, to let this story unfold until it became crystal clear to investors. I don't understand this logic.
And you? I don't understand what she is saying. Good. I understood. Good. Explain this to me. Yes. Just look at all the posts that Tesla shareholders make . I've been waiting all this time, 5 years, for this robot taxi thing to explode. She's about to explode. Don't buy my shares now, because my shares are worth much more.
This...This is a summary of what they're saying. And this is a summary of what she says. This robotaxi price discovery didn't happen because the market needs to see the implementation, they need to see the financials, they need to understand it. It's pretty easy for Katie to understand. She has a team of analysts who actually do this analysis.
They do it very well, and they have a clear vision. Publicity - no. So, stocks do not reflect full value. I have a counterargument to this, and it is that we have exactly the same situation on the part of SpaceX. We have two stocks whose futures are so extravagant, and we have devalued them very much.
In my opinion, SpaceX shares should be around $200. In my opinion, Tesla shares should be around $600-700. How to combine these two actions ? This is where the difficulty lies. I have a very simple view of the world, that together they are worth much more. And their business, which is just starting to grow, costs much more, so it's pointless to wait.
We can take these current prices of non-school companies and combine them. This is my opinion. And I was the one who said that this won't happen until the quarantine ends in the middle of next year. But then, in my quarantine restrictions, you quickly said, " No, actually it's going to happen sooner." And you believe that?
Yes, I believe. And I believe this is because SpaceX has the same unrealized potential as Tesla. And much of the unrealized potential in the long term depends on their joint discovery of these opportunities. And that's why I think it's so important for them to get married as soon as possible . Good.
So, first of all, I'm not pushing for SpaceX to buy Tesla. People accuse me of "that's all you ever do." No. No, I'm reporting. I try to explain to people what can happen. I don't know if I want SpaceX to buy Tesla. But if they do, it's like I don't know if I need it to happen tomorrow. So I understand her point about letting work drive the wheel .
On the other hand, when you hear X’s arguments about this, they say, “Well, Tesla is worth $2,000 right now. And that's exactly why they should buy us. So, yeah, it's kind of an infinite price, oh, it's not ready yet, but it won't be. Someone says, "We're going to offer a Tesla for $600, $800." " Guess what?" You're going to have a bunch of Tesla investors saying, " That wasn't enough." I don't think these Tesla investors matter because it's an ill-considered point of view.
You need to significantly discount the $2,000 value today due to uncertainty . And you should do the same for SpaceX. SpaceX has...My argument is very simple. If you're a Tesla investor with little knowledge of SpaceX, you tell people, "Look, you guys don't understand the value of these young Tesla businesses." “That’s what SpaceX investors will say.
Yes. My God, you're talking about the original value. Look at the initial value of SpaceX. So, there are two companies with such gigantic values, and those values are greatly enhanced by their merger. I think the reason why this is likely to happen sooner rather than later, as we're talking about a month or two, rather than a year, is because the capabilities of AI are so vast.
AI ground data center leasing, AI sales, and Grok development, the digital optimist, these things are so big, and they're happening now, that according to Brian Wang's analysis, they're eclipsing what you'd get from robo-taxis. Overshadows him. That's right. That's right. Makes a robo-taxis so good that it will be overshadowed by what is there.
And this opportunity is appearing now, like this year. That's why I think Elon will leave, I need to bring them together. But yes, Brian is right. Brian is right. That's right." I argue from a financial perspective, he argues from a technological perspective, but I think the point is the same. The point is the same: SpaceX has the same value as Tesla, and that value can be increased so much by combining them that the combined value will be significantly higher than the individual independent values.
Yeah, I just did a show with Brian that came out this weekend, and he says that with ground-based data centers, if you put together all the pieces that Tesla already has, including what XAI has, of course, you get to $100 billion a year within a few years. For example, 100 billion is like a full-fledged Tesla.
That's why he says it's not a small thing. This is a big giant opportunity that's in front of us, and if you're Elon, he'll do it as quickly as possible. And I'm moving on. I'm moving on . This is one giant in the world of data centers alone . There are many other giant opportunities at SpaceX, and there are many other giant opportunities at Tesla.
And in all cases, these possibilities are expanded when they are together. So, that's my opinion. We'll see what happens.
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