SpaceX and Tesla Formed Committees to Weigh a $3.5 Trillion Merger. Musk Says It's a Good Idea, He's Not Allowed in the Room, and One 'Independent' Director Sits on Both Boards
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On SpaceX's third-quarter earnings call on October 20, Elon Musk said the boards of SpaceX and Tesla have each formed special committees of independent directors, at shareholders' request, to evaluate a merger that would be the largest in history at about $3.5 trillion. Musk said he is recused as a conflicted party but thinks combining is 'a good idea' because of the 'superintelligence singularity' and overlap in AI software, chips and robotics. The same call showed SpaceX's AI unit, mostly a compute-rental business, out-earning Starlink for the first time, with capex set to double next quarter.
