RBC models SpaceX-Tesla merger at $3.74 trillion, $480 a share for Tesla
SpaceX · Tesla
Per RBC's Tom Narayan: an all-stock SpaceX takeover of Tesla at $480 a share would value the combined company at $3.74 trillion.
what happened
RBC Capital Markets analyst Tom Narayan modeled a hypothetical all-stock SpaceX acquisition of Tesla at $480 per share, valuing the combined company at $3.74 trillion with Tesla shareholders holding 48% versus 52% for SpaceX investors, up from the $3.31 trillion, 54%-46% split Narayan modeled in July. RBC said it has no knowledge of an actual transaction in progress.
why it matters
The note extends a live Wall Street debate over whether Musk will combine his two companies, after Barclays predicted Oct. 14 that a deal could be announced before Tesla's annual meeting; each bank's price-target framing shapes how investors and counterparties price both stocks ahead of any real announcement. RBC's rationale, pairing Tesla's robotics and manufacturing with SpaceX's AI infrastructure including its Terafab chip ambitions, previews the synergy case bankers would make if talks ever became real.
for who
SpaceX and Tesla shareholders; bank equity analysts covering both stocks
signal-to-noise
quick facts
- Companies
- SpaceX, Tesla
- Category
- financial
- Impact
- notable
- SNR
- 4 / 5
- Event date
- 2026-10-19
- Published
- 2026-10-20 05:32 UTC