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All eyes are on the SpaceX IPO<\/a> \u2014 the world\u2019s largest in history \u2014 and its CEO Elon Musk. But lest you forget, there is another publicly traded company in the Musk universe that many believe will someday merge with SpaceX.<\/p>\n We\u2019re talking about Tesla, which has a current market cap of about $1.26 trillion. Musk, who also leads Tesla, has pitched it as an AI and robotics company, even though the bulk of its revenue still comes from selling EVs. Some see a merger with SpaceX as a critical step to achieving that vision.<\/p>\n SpaceX president and COO Gwynne Shotwell seems open to the idea. During an interview with CNBC, Shotwell said a merger \u00a0\u201cmight make Elon\u2019s life a little easier.\u201d<\/p>\n There is evidence that SpaceX is already preparing for one. The company amended its S-1 registration document<\/a> ahead of its public debut to include new language in its risk factors section about mergers and acquisitions. The added sentence, which reads \u201cWe may issue a significant amount of equity in connection with future transactions,\u201d is a warning to investors of future dilution. A warning like that wouldn\u2019t be necessary for a small-scale deal; it likely means Tesla.<\/p>\n As a reminder, Musk is quite comfortable bringing the disparate pieces of his portfolio together. SpaceX acquired<\/a> Musk\u2019s AI company, xAI, earlier this year. And xAI acquired Musk\u2019s social media company, X, in an all-stock transaction<\/a> the year before.<\/p>\n<\/div>\n