Elon Musk endorsed a potential Tesla-SpaceX merger that would create a roughly $3.5 trillion company combining AI, space exploration and electric vehicle manufacturing. Musk said both companies have formed independent director committees to discuss the idea at shareholders' request. However, Musk said the committees have not agreed on transaction terms and may never reach agreement. Musk said Tesla would need support from 50% of all shares, not just shares voted. SpaceX's third-quarter earnings showed revenue rising 161% year over year to $14.6 billion, with AI becoming the largest revenue segment.
