Jed Dorsheimer, group head of the energy and power technologies sector at William Blair, sees a logical path for Tesla (TSLA) to eventually merge with SpaceX (SPACE) and xAI (X.AI), citing the strategic alignment of power, energy, and autonomy across Elon Musk’s portfolio of companies.
The analyst noted that Tesla’s (TSLA) transition toward humanoid robots and autonomous vehicles creates natural synergies that could benefit from a unified corporate structure.
Speaking in an interview with CNBC, Dorsheimer weighed in on the growing speculation about a potential combination of Musk’s enterprises. His comments followed Wedbush analyst Dan Ives’ assessment that “there’s a growing chance now that Tesla (TSLA) will eventually be merged into SpaceX x AI over time, grow the AI ecosystem in space and on Earth.”
Dorsheimer pointed to Tesla’s (TSLA) decision to scale back Model S and X production in favor of manufacturing its Optimus humanoid robots as evidence of the company’s shifting priorities.
“The merger of power, energy, and autonomy is all really coming together,” he said, adding that such a combination “makes sense” from a strategic perspective.
However, the analyst acknowledged significant challenges with space-based AI infrastructure, particularly around reliability.
“Redundancy is going to be the big issue,” Dorsheimer explained, noting that if “you have a solar panel, or you have something go down in space, obviously, that’s going to be a real challenge.”
The shift toward autonomous robotaxis could fundamentally reshape Tesla’s (TSLA) automotive business, Dorsheimer suggested. He noted that the average car utilization in the U.S. is only about 5%, and as autonomy takes hold, “the need for the number of cars actually goes down, dramatically.”
Dorsheimer also highlighted Tesla’s (TSLA) energy division as a “silent winner” during this transition period, arguing that the return on invested capital for the energy business exceeds that of the automotive segment.