SpaceX Rockets Past Tesla in Market Value, Fueling Speculation of a Potential Merger

With a market capitalization of $2.1 trillion, SpaceX has surpassed Tesla, leaving the tech world wondering if a merger is on the horizon.

SpaceX's monumental market value has sent shockwaves through the tech industry, with many speculating about a potential merger between the two companies led by Elon Musk. As of market close on Friday, SpaceX is now the sixth most valuable U.S.-listed company, surpassing Tesla's market cap of $1.52 trillion. This development has left many questioning whether a merger is inevitable, with some even suggesting that it could make Elon Musk's life "a little easier."

In an interview with CNBC, SpaceX president and COO Gwynne Shotwell seemed open to the idea of a merger, saying it "might make Elon's life a little easier." This statement has fueled speculation that a merger could be on the horizon, although neither company has made any official announcements.

• The additional sentence in SpaceX's S-1 document warns investors of future dilution, which could be a sign of a potential merger.
• Tesla's market cap has been steadily declining since the beginning of the year, while SpaceX's market value has been on the rise.
• A merger between the two companies could create a behemoth in the tech industry, with a combined market value of over $3 trillion.

EV News Roundup

• General Motors is pushing deep into batteries, but not for EVs. The company announced plans to sell a commercial energy-storage system for AI data centers and the grid.
• Lucid Motors' top executive, Emad Dlala, has left the company just months after being promoted to a leading role.
• Waymo has acquired a massive 5,500-acre proving ground in Arizona from Apple for $220 million.
• CameraMatics, an Irish company that uses AI-powered video telematics to help make fleets safer, raised €49 million in a funding round led by Blume Equity.
• Clear Robotics, an Indian tech company developing autonomous ships, raised a $1.75 million pre-Series A funding round led by Shipsfocus Ventures.

Robotaxi Showdown in London

Uber, U.K. startup Wayve, and Waymo are headed toward a robotaxi showdown in London. Waymo has launched a loyalty program called Waymo Premier, which will offer frequent robotaxi riders a number of perks in exchange for $29.99 per month. The company has also released details on a new computer model it created that is designed to more accurately answer a fundamental question: How does its autonomous driving software stack up against humans?

Waymo's loyalty program is a bold move, and the company is clearly trying to establish itself as a leader in the robotaxi space.

• Waymo's computer model is designed to simulate real-world driving scenarios and test the company's autonomous driving software.
• The robotaxi showdown in London is heating up, with multiple companies vying for market share.

Other Notable News

• Wing, the Alphabet-owned autonomous drones company, is pushing into seven more U.S. cities through its partnership with Walmart.
• Evotrex, a startup developing hybrid RV travel trailers, raised $30 million in a Series A funding round.
• Volteum, a startup that developed fleet management software for electric and mixed fleets, raised €2.5 million in a round led by Movens Capital.
• Zepto, the Indian quick-commerce delivery startup, unveiled plans for an initial public offering that could be valued at about $1 billion.
• Zūm, a startup that provides transportation services for school-age children, is interviewing banks about a possible IPO.