TLDR
- Tesla received FTC clearance to convert its $2 billion xAI investment into a SpaceX stake
- The filings, dated March 11, list Tesla as the acquirer of a SpaceX stake from Elon Musk
- The conversion follows the recent merger of xAI and SpaceX
- Tesla’s resulting SpaceX stake would be less than 1%
- Musk is also selling holdings to investors including Valor Equity Partners and DFJ Growth
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Tesla has received government clearance to convert its investment in Elon Musk’s AI company xAI into a stake in SpaceX, according to filings with the US Federal Trade Commission dated March 11.
$TSLA has received government clearance to roll its previously announced $2 billion xAI investment into a small stake in SpaceX, formalizing deeper ties between Musk’s companies ahead of SpaceX’s planned IPO. The stake is said to be less than 1%. pic.twitter.com/BvpHH0jXL3
— Wall St Engine (@wallstengine) March 12, 2026
The filings list Tesla as the acquirer of a SpaceX stake directly from Musk, who serves as CEO of both Tesla and SpaceX. FTC filings of this type are required for transactions valued above $133.9 million, though the exact size of the stakes was not disclosed.
The move stems from Tesla’s previously announced $2 billion investment in xAI. That investment is now being rolled over into SpaceX following the recent merger between xAI and the space-launch company, according to Bloomberg.
At $2 billion, Tesla’s resulting stake in SpaceX would amount to less than 1% of the company.
The same filings also show Musk selling holdings to outside investors, including Valor Equity Partners and DFJ Growth.
What the Conversion Means for Tesla
This conversion formalizes the financial relationship between Tesla and SpaceX ahead of SpaceX’s planned IPO.
Tesla first announced the $2 billion xAI investment as a way to give the company exposure to Musk’s artificial intelligence ventures. With xAI now folded into SpaceX, that exposure shifts to the rocket and satellite business instead.
The timing is notable given SpaceX’s anticipated public offering. A sub-1% stake is small, but it would still put Tesla on the SpaceX cap table at the moment of one of the most anticipated IPOs in recent memory.
FTC Filing Details
The FTC filings were dated March 11, 2026, with Bloomberg first reporting the details on March 12.
The documents cover multiple transactions. Alongside Tesla’s stake acquisition, they record Musk transferring holdings to Valor Equity Partners and DFJ Growth — both long-standing SpaceX backers.
The FTC filing requirement kicks in automatically for deals above the $133.9 million threshold. The fact that Tesla triggered this threshold confirms the stake is material, even if the exact figure stays private for now.
Tesla stock was down 2.67% on the day the news broke.
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