SpaceX and Tesla Will Likely Merge, Ives Says
Speakers
Dan Ives
— Managing Director, Wedbush Securities
Romaine Bostick
— Anchor, Bloomberg
Summary
Dan Ives, Global Head of Technology Research at Wedbush Securities, discusses SpaceX's record $75 billion IPO priced at $135 with massive oversubscription. He views SpaceX as a data and AI play with a Starlink moat and predicts an 80% probability that Tesla and SpaceX will merge within a year to consolidate Musk's AI ecosystem. The conversation covers the Musk premium, orbital data centers, and how the IPO has impacted recent tech market liquidity.
- SpaceX IPO priced at $135, raising $75 billion, 4x oversubscribed with $100 billion in retail orders.
- Dan Ives sees an 80% chance Tesla and SpaceX merge in the next year to unify Musk's AI data assets.
- SpaceX is framed as a data/AI play with a moat from Starlink, not a traditional space company.
- Orbital data centers are expected to become realistic within 3–4 years, boosting SpaceX's long-term value.
- Tesla remains the main public vehicle for Musk's ecosystem until a merger materializes.
- The recent tech sell-off is partly attributed to liquidity repositioning ahead of the SpaceX IPO.
- Ives is bullish on both SpaceX and Tesla, citing the fourth industrial revolution and AI infrastructure spending.
Ideas
SpaceX is a data and AI play with a strong competitive moat from Starlink, not a traditional space company. The Musk factor has historically rewarded investors, and the IPO's massive oversubscription shows high demand. Additionally, orbital data centers are realistic within 3-4 years, positioning SpaceX as a leader in the fourth industrial revolution.
Tesla likely merges with SpaceX.
Wedbush sees an 80% chance Tesla and SpaceX will merge within the next year as part of Elon Musk's broader plan to consolidate his ecosystem around AI data. Tesla is the public vehicle to gain exposure to this combined AI data powerhouse. Wedbush is bullish on Tesla.
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