Overview
- FTC filings dated March 11 cleared Tesla to convert its previously announced $2 billion xAI investment into SpaceX equity.
- The documents identify Tesla as acquiring the SpaceX stake directly from Elon Musk.
- Based on valuation context cited in coverage, Tesla’s position is estimated at under 1%, with exact terms undisclosed.
- The same filings show Musk transferring portions of his SpaceX holdings to outside investors including Valor Equity Partners and DFJ Growth.
- The move formalizes a financial link between Tesla and SpaceX ahead of a planned SpaceX IPO, and Tesla shares fell about 2.67% after the news was reported.