With SpaceX set to launch its IPO, investors gain a new entry point into Elon Musk’s ventures, raising the prospect that funding and attention could shift away from Tesla’s electric-vehicle business. Reports of merger discussions further underscore investor concern over Musk’s ability to balance priorities between the two companies.

Tesla’s shares have declined 8.8% year-to-date and trade at approximately 196 times projected earnings, reflecting slowing sales growth and intensifying competition from established automakers and emerging Chinese EV manufacturers. The elevated multiple implies lofty future expectations for autonomous driving and robotics.

A jury dismissed Elon Musk’s $134 billion lawsuit against OpenAI in under two hours, eliminating a significant legal overhang but spotlighting Musk’s shifting focus toward SpaceX. The swift verdict removes a potential distraction but may underscore Tesla’s secondary status in Musk’s portfolio.