Elon Musk has said Tesla and SpaceX have set up special committees of independent directors to examine a possible merger, GB News reports. Speaking to investors on Tuesday, Musk said he thought a combination would be a good idea, but that he could not take part in the talks because he holds large stakes in both companies, and warned that assuming a deal was certain would be overstating it.
The two companies have an estimated combined value of $3.5 trillion, and any merger would need the backing of at least half of Tesla's shareholders. Musk cited shared interests in AI software, chip design and robotics. The comments came as SpaceX, which has absorbed xAI and X, reported quarterly revenue up 161% to $14.6 billion, with its AI division the biggest driver of growth.
Source: GB News
