Elon Musk's corporate universe could be headed for its biggest combination yet, according to Wedbush analyst Dan Ives, who is now putting an 80% probability on a Tesla Inc.

(NASDAQ:TSLA) and SpaceX merger.

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Ives made the call in a Wednesday note after SpaceX officially filed its S-1 to go public, a move Wedbush called the largest IPO in stock market history and a "major moment" for space and tech.