Musk calls Tesla-SpaceX merger 'good idea'
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Elon Musk said Tuesday that a merger of his two companies SpaceX and Tesla would be "a good idea" and that they had formed special committees to discuss a union, sending shares of the space and technology company up 4.9 percent in extended trading. The company earlier posted its first profit as a public company and Musk said it was tracking an annual revenue run rate of up to $1 trillion. Musk has in the past tantalized shareholders with the idea, citing growing overlap between the companies. Speculation about SpaceX buying the EV maker has gained traction recently, with Barclays suggesting last week that a deal could be announced before Tesla's annual meeting in December. "I think it would be a good idea, but it's really up to the special committees of both companies," Musk said in the first official confirmation that the companies were formally talking. "Because I'm a conflicted party, I can't actually be in the discussion of the special committees," he told investors on a conference call. Shareholders ultimately would need to approve a deal, he added. SpaceX's revenue climbed 161 percent to $14.58 billion for the three months ended September 30 from a year earlier. AI revenue surged by almost 10 times to $7.56 billion, mostly from renting out data-center capacity to developers such as Anthropic, Alphabet's Google and Reflection AI rather than from its own models. "We...
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