{
  "id": 15810635,
  "title": "Musk says he backs SpaceX-Tesla merger as rocket firm turns profit",
  "url": "https://urgent.news/2026/10/20/musk-says-he-backs-spacex-tesla-merger-as-rocket-firm-turns-profit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T22:17:41.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1560132/musk-says-he-backs-spacex-tesla-merger-rocket-firm-turns-profit"
  },
  "original_language": "en",
  "account": "Elon Musk expressed his support for a merger between SpaceX and Tesla on Tuesday, as the rocket and AI company reported its first quarterly profit since going public. The earnings, driven by deals to rent out computing power to AI firms, showed net income of US$4.4 billion for the July-September period, up from a loss of US$1.1 billion a year earlier. Revenue increased 161 percent to US$14.6 billion, following a rocky start on Wall Street. Musk acknowledged the potential benefits of a merger, including collaboration on AI software, chip design, robotics, and space-based computing. However, he noted that the idea is being examined by special committees of independent directors at both companies, which he cannot participate in due to a conflict of interest. A deal would require a majority of all Tesla shares, a challenging hurdle to clear. SpaceX's AI division, known as Super Intelligence, posted an operating profit of US$431 million, up from a loss of US$1.7 billion a year earlier. The unit's revenue more than tripled to US$7.6 billion, surpassing Starlink as the company's top source of sales. Musk remains optimistic about SpaceX's computing capacity growth, projecting the addition of 10 gigawatts by 2027, but acknowledged power, cooling, and electrical equipment as potential limiting factors in expansion.",
  "summary": "WASHINGTON: Elon Musk said on Tuesday he would back a merger of SpaceX and Tesla, as his rocket and AI company reported its first quarterly profit since going public, driven by deals to rent out computing power to AI firms.",
  "key_points": [
    "Elon Musk backs SpaceX-Tesla merger for AI, robotics collaboration",
    "SpaceX's AI division Super Intelligence turned profitable with $431M profit",
    "Merger requires majority of Tesla shares, challenging for Musk"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "SpaceX investors, ahead of results, press Musk on Tesla merger",
        "url": "https://urgent.news/2026/10/20/spacex-investors-ahead-of-results-press-musk-on-tesla-merger-15785709",
        "published": "2026-10-20T18:13:28.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "SpaceX investors, ahead of results, press Musk on Tesla merger",
        "url": "https://urgent.news/2026/10/20/spacex-investors-ahead-of-results-press-musk-on-tesla-merger",
        "published": "2026-10-20T18:18:27.000Z"
      },
      {
        "outlet": "Nikkei Asia",
        "title": "Elon Musk says SpaceX and Tesla discussing possible merger",
        "url": "https://urgent.news/2026/10/20/elon-musk-says-spacex-and-tesla-discussing-possible-merger",
        "published": "2026-10-20T20:31:32.000Z"
      },
      {
        "outlet": "MarketWatch Top",
        "title": "Tesla’s stock rises as Elon Musk drops new clues about a possible SpaceX merger",
        "url": "https://urgent.news/2026/10/20/teslas-stock-rises-as-elon-musk-drops-new-clues-about-a-possible",
        "published": "2026-10-20T22:33:00.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Musk says backs SpaceX-Tesla merger as rocket firm turns profit",
        "url": "https://urgent.news/2026/10/20/musk-says-backs-spacex-tesla-merger-as-rocket-firm-turns-profit",
        "published": "2026-10-20T22:49:10.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Musk says SpaceX-Tesla merger is 'a good idea' as companies form deal committees",
        "url": "https://urgent.news/2026/10/21/musk-says-spacex-tesla-merger-is-a-good-idea-as-companies-form-deal",
        "published": "2026-10-21T01:12:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}