Musk backs SpaceX-Tesla merger idea, shares jump 8%

cnnbrasil.com.br (Portuguese) —

Elon Musk said Tuesday that merging SpaceX and Tesla would be "a good idea" and that both companies have formed special committees to discuss the union, causing Tesla shares to rise 8% in extended trading. Musk noted he cannot participate in the committee discussions due to a conflict of interest, and that shareholders would ultimately need to approve any deal. Barclays indicated last week that an agreement could be announced before Tesla's annual meeting in December. SpaceX reported its first profit as a public company, with revenue up 161% to $14.58 billion in the third quarter. Musk expects annual recurring revenue between $500 billion and $1 trillion by late 2027, driven by AI data center demand.


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