It’s all in a stock that may very well be near its zenith when this closes (or maybe not. This is so far past fundamentals it’s impossible to tell).
They’re spending Monopoly money.
It also seems like SpaceX is poised to Hoover up all of Elons companies so it’s might not be “just a space company” for long.
Everything will be folded in "X" eventually, anyway.
Elon's award is tied to growing Tesla's market cap - it's pretty transparent that he's just trying to ball-of-mud together everything he can to hit that target and grab the bag.
The company that just IPOed is already overwhelmingly "X AI" financially, regardless of the fact that it says "Space X" in the marketing. Whether SpaceX also buys Tesla is hardly even going to move the needle.