I think Musk is backed into a corner financially. Most of his companies don't have that much revenue and their worth is mostly based on hope.

They might be closer to collapsing than most people think. It's not unheard of that a billionaires net worth drops to zero over night.

I think it's mostly financial reasons why they merged the companies, this space datacenter idea was born to justify the merge of SpaceX and xAI. To give investors hope, not to really do it.