Elon Musk confirms SpaceX and Tesla merger talks as shares jump
Summary
SpaceX and Tesla have formed independent director committees to explore a possible merger, Elon Musk said, though no terms have been agreed and shareholders would need to support a deal. Musk, who holds stakes in both companies, said he cannot take part in committee discussions. A merger would combine their reported bitcoin holdings of 30,221 BTC. SpaceX shares rose about 9% in premarket trading after the company reported quarterly revenue and earnings above forecasts, alongside $19.59 billion in capital expenditure, largely for AI.
