Tesla Inc (NASDAQ:TSLA) shares are moving higher in extended trading on Thursday following reports that SpaceX is considering a potential tie-up with the EV maker.<ul><li>Tesla stock is showing upward movement. What’s pushing TSLA stock higher?</li></ul><h2>Musk-Led Companies Could Join Forces</h2>Elon Musk’s SpaceX is mulling a potential merger with Tesla and xAI, according to Bloomberg. All three companies are owned by Musk.People familiar with the matter reportedly said SpaceX has been discussing a potential deal with Tesla as some investors in the companies have expressed interest in the idea.The news comes just hours after reports surfaced that SpaceX was considering a potential tie-up with xAI ahead of the space exploration company’s planned IPO later this year. A potential deal would reinforce the idea that Musk is pushing for a public debut this year in order to raise capital to build out orbital data centers, per Reuters. SpaceX is reportedly eyeing an IPO in June at a valuation of around $1.5 trillion. <h2>TSLA Stock Gets A Boost</h2>TSLA Price Action: Tesla shares were up 3.11% in after-hours, trading at $429.51 at the time of publication on Thursday, according to Benzinga Pro. Tesla is currently trading 2.3% below its 20-day simple moving average (SMA) and 1.3% below its 100-day SMA, indicating some short-term weakness. However, shares have increased by 7.06% over the past 12 months and are positioned closer to their 52-week highs than lows, reflecting a generally positive long-term trend.The RSI is at 43.93, which is considered neutral territory, while the MACD is below its signal line. Key resistance is at $499, while key support can be found at $424.50. Image: Shutterstock.com

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Tesla shares rose 3.11% in after-hours trading following reports of a potential merger with SpaceX, which is owned by Elon Musk. Discussions are ongoing as investors show interest in the tie-up. SpaceX is also considering a merger with xAI ahead of its planned IPO, aiming for a valuation of $1.5 trillion. Despite short-term weaknesses, Tesla's stock has increased by 7.06% over the past year, indicating a generally positive long-term trend. Key resistance is at $499, and support is at $424.50.

- Tesla Inc (NASDAQ:TSLA) shares are rising in after-hours trading following reports of a potential merger between SpaceX, Tesla, and xAI, all owned by Elon Musk.  
- Discussions are reportedly driven by investor interest in collaboration as SpaceX prepares for an IPO anticipated to raise capital for orbital data centers.  
- At the time of publication, Tesla shares increased by 3.11%, trading at $429.51, despite being below some key moving averages but showing a positive long-term trend with a 7.06% increase over the past year.

Tesla Stock Rises On Potential Tie-Up With SpaceX