Musk says SpaceX-Tesla merger a ‘good idea’ as AI revenue jumps ninefold
A merger would bring Tesla into the same corporate group as Grok developer SpaceXAI and social media platform X.
Elon Musk expressed his support for merging Tesla with SpaceX, a move that would create a massive technology conglomerate worth approximately $3.5 trillion. During a SpaceX Q3 earnings call, Musk stated that such a merger would be beneficial "yes," while also noting that it's not guaranteed. The potential merger would combine Tesla's electric vehicle manufacturing with SpaceX's advancements in space exploration, AI, and manufacturing.
Musk mentioned that both companies have formed special committees of independent directors to discuss the idea, but he cannot participate due to conflicts of interest. The discussions are focused on collaborating on superintelligence software, chip design, robotics, and mass to orbit capabilities for the Starmind constellation. The growth of SpaceX's AI segment, known as Grok developer SpaceXAI, has been significant, becoming the company's largest revenue segment in Q3.
The segment generated $7.6 billion in revenue, an 830% increase from the previous year, driving the company's overall revenue rise of 161% to $14.6 billion. A merger between Tesla and SpaceX could also consolidate two large Bitcoin treasuries under one company, with SpaceX holding 18,712 Bitcoin and Tesla owning 11,509 BTC as of June 30.
If successful, the combined company would have a significant Bitcoin presence, ranking as the sixth-largest public Bitcoin treasury company.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
