SpaceX, Tesla Explore Possible Merger

SpaceX reported third-quarter revenue of $14.6 billion, up 161% year over year, and net income of $4.4 billion. Its Super Intelligence AI business generated $7.6 billion, more than Starlink and launch services combined, while heavy infrastructure spending and rising debt highlighted the costs of expansion. Elon Musk said the SpaceX and Tesla boards had formed committees to explore a possible merger, though no terms had been agreed; the news helped lift shares in both companies. Tesla’s deliveries beat estimates but fell year over year, and investors were focused on its AI plans, robotaxis, Optimus, spending and further merger details ahead of its quarterly results.