SpaceX revenue jumps 161% as Musk floats Tesla merger idea

SpaceX reported a $4.4 billion quarterly profit on Tuesday, reversing a year-ago loss, as revenue surged 161% to $14.6 billion, driven by its satellite communications and artificial intelligence businesses. Elon Musk suggested on an analyst call that a merger with Tesla might be discussed by special committees of independent directors, though he downplayed the chances of an imminent deal. The AI business became SpaceX's largest revenue source, while Starlink remained the top profit generator. The company's stock rose 7.5% in after-hours trading. Musk also outlined plans to attempt catching both the booster and ship of its Starship rocket with mechanical arms next month. SpaceX faces political scrutiny over government contracts and reported capital expenditures of $19.6 billion last quarter.