Elon Musk hinted at a Tesla-SpaceX merger on Tesla's Q2 2026 earnings call, citing 'more and more overlap' but saying it needs 'the appropriate process.'

Tesla investors are responding to rampant speculation about a mega-merger with SpaceX, which raised $86 billion in a blockbuster IPO last month.

Musk told investors there is “more and more overlap” between his two companies.