Cathie Wood's ARK Invest Says Tesla's Robotaxi Cash Flow Could Bankroll SpaceX's AI Ambitions, Backing a Potential Merger of Elon Musk's Two Companies. Is This the Thesis That Finally Reprices Tesla Stock?

ARK Invest’s thesis linking Tesla’s robotaxi cash flow to funding SpaceX’s AI ambitions signals a potential strategic realignment with material implications for credit markets. If Tesla’s autonomous vehicle operations can reliably generate cash to support SpaceX, it may alter risk profiles and capital allocation between these entities. For middle-market lenders, this could influence valuation frameworks and covenant structures, especially if a merger reshapes credit interdependencies and liquidity dynamics across Elon Musk’s companies.