Tesla (TSLA) shareholders have had a lot to digest lately. The company’s Q4 2025 earnings call was packed with bold promises: from unsupervised robotaxis rolling through Austin to a million Optimus robots a year coming out of Fremont.
But there’s something else in the near-term calendar that could meaningfully move the needle for TSLA stock. It doesn’t involve a delivery report or an earnings beat. It involves a rocket company.
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SpaceX is hosting an analyst day on April 21. According to Reuters, the rocket company has confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC).
Two days after the analyst event, analysts will be invited to visit the “Macrohard” xAI data center in Memphis, a facility that sits at the center of Musk’s growing artificial intelligence empire.
CNBC, citing sources familiar with the matter, reported that SpaceX could seek a valuation of $1.75 trillion when it eventually goes public, possibly around June. A SpaceX IPO at $1.75 trillion would make it the most valuable company ever to debut on a U.S. exchange.
CNBC reported that China’s Alibaba (BABA) raised $22 billion in its 2014 IPO, the largest U.S. offering at the time. SpaceX is reportedly eyeing up to $75 billion, more than three times that figure.
On Tesla’s Q4 earnings call, Chief Financial Officer Vaibhav Taneja confirmed the company has invested in xAI, calling it “a furtherance of our Master Plan IV.”
Tesla already uses Grok, xAI’s AI model, inside its vehicles. And Musk made clear on the call that Grok will play a bigger role going forward, particularly in managing a large autonomous fleet.
When SpaceX eventually goes public, Musk would become the first person to run two separate trillion-dollar publicly traded companies.
The SpaceX-xAI merger, completed in February, created a combined entity Musk valued at $1.25 trillion at the time.
Back on the Tesla front, the Q4 earnings call left little doubt about where the company’s focus is headed.
Musk confirmed…
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