Speculation is rising regarding a potential partnership between Galaxy Digital ($GLXY) and SpaceX ($SPCX), specifically involving the Merlin data center project located near SpaceX facilities in McGregor, Texas. Key indicators include reports of SpaceX employees assisting Galaxy with noise reduction concepts and the use of the entity name GXMG, which some interpret as a link between Galaxy and xAI. Galaxy CEO Mike Novogratz is also noted as an early investor in SpaceX, further fueling sentiment of a strategic connection.