Tesla and SpaceX Merger Worth $3.5 Trillion Under Review, Musk Calls It a Good Idea

Elon Musk publicly endorsed merging Tesla and SpaceX, a deal valued at nearly $3.5 trillion, stating he believes it would be a "good idea" as special committees examine the proposal. Both companies have formed independent board committees to review the potential merger, following shareholder requests. Musk, who holds significant stakes in both firms, recused himself from discussions due to a conflict of interest, noting that shareholder approval would ultimately be required. The announcement came after SpaceX reported strong quarterly results, including net profits of $4.4 billion and a 161% revenue increase. Musk cited benefits like collaboration on AI software, chip design, and robotics, while shares of both companies rose following his comments.