Business - Musk Talks up Potential Merger of SpaceX and Tesla
4 Articles
4 Articles
Business - Musk talks up potential merger of SpaceX and Tesla
As SpaceX reports blockbuster quarterly earnings, CEO Elon Musk floats the possibility of merging the rocketry and AI firm with his electric car company Tesla. Also in this edition: OpenAI reveals more…
Following the earnings announcement, SpaceX's stock price has surged, but questions are also growing regarding capital expenditures, ambitious targets, and the possibility of a merger with Tesla, as hinted at by Musk.
Photo: Getty Images Elon Musk’s SpaceX shares rose nearly 10% in early trading on Wednesday. The rise was driven by the company’s third-quarter financial results, which beat analysts’ expectations. Musk also confirmed that a potential merger between SpaceX and Tesla is under discussion at both companies’ boards. SpaceX’s revenue in the third quarter was $14.6 billion, beating analysts’ expectations of $14.6 billion.
The market is buzzing with news that SpaceX, the space company led by Elon Musk, and the electric vehicle manufacturer Tesla could come together under one roof. Investors have flocked to the stock market after Musk personally raised the possibility of a merger in a public forum, coupled with SpaceX’s performance—driven by its artificial intelligence (AI) business—exceeding expectations. The securities industry interprets these strong results as …
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