From CNBC · Lora Kolodny · · 2m
Musk says Tesla and SpaceX form merger committees
Musk confirms Tesla and SpaceX boards form special committees to discuss potential merger.
In brief
Musk confirms Tesla and SpaceX boards form special committees to discuss potential merger. Elon Musk said Tesla and SpaceX boards formed special committees to discuss a potential merger after reporting strong Q3 2026 earnings. Originally reported by CNBC.
SpaceX Q3 2026 earnings
SpaceX reported 161% revenue growth for Q3 2026, beating Wall Street estimates with $14.58 billion revenue.
Tesla-SpaceX merger talks
Elon Musk said Tesla and SpaceX boards formed special committees to discuss a potential merger at shareholders' request.
AI revenue surge
SpaceX's AI business grew ninefold to $7.56 billion from $813 million in Q3 2026, exceeding analyst expectations.
Starlink subscriber growth
Starlink subscriber count rose to 13.6 million in Q3 2026, up from 12 million in the prior period.
Starlink revenue jump
Total connectivity revenue jumped 69% to $5.25 billion from $3.1 billion a year earlier, with $3.12 billion from consumers.
AI business profitability
SpaceX's AI business swung to a profit of $431 million, while the space division lost $7 million in Q3 2026.
Starship development
SpaceX aims to deploy Starship Flight 14 as a major milestone with plans to catch both the booster and ship in next test flight.
Terafab chip production
Musk targets volume production of AI chips at Terafab factory in Texas by Q3 2028, partnering with Tesla and Intel.
Starshield restrictions
SpaceX restricted Starshield use in Ukraine, causing drones to lose connectivity at speeds over 100 miles per hour.
Starlink mobile network plans
SpaceX plans to build a U.S. mobile network after buying 800 MHz of low-band spectrum and FCC approval for 15,000-satellite constellation.
AI cloud contracts
SpaceX signed cloud computing agreements with Google, Anthropic, and Reflection AI, generating significant revenue.
Starlink mobile spectrum
SpaceX bought 800 MHz of low-band spectrum for U.S. mobile network development, pending FCC approval.
Starlink government revenue
SpaceX generated $2.13 billion from government and enterprise customers in Q3 2026.
AI capital expenditures
SpaceX committed $16.4 billion to AI business out of $19.6 billion in capital expenditures for Q3 2026.
Starlink ARPU growth
Starlink average revenue per user increased to $69 from $66 in the prior period, with 13.6 million subscribers.
Starlink aircraft activation
Starlink activated in over 3,800 aircraft as of Q3 2026, including American Airlines.
The main idea
Elon Musk said Tesla and SpaceX boards formed special committees to discuss a potential merger after reporting strong Q3 2026 earnings.
