Tesla and SpaceX explore merger, amid huge profit surge

Key points

• Elon Musk says Tesla and SpaceX are exploring a possible merger, with special committees at both companies examining the idea. Musk said he is not involved in the talks because of potential conflicts of interest.
• He added that any deal would need approval from at least 50 per cent of Tesla shareholders. SpaceX posted net income of $US4.4 billion last quarter, compared with a loss of around $US1 billion a year earlier, driven by its Starlink satellite internet service and AI data centres.
• Revenue rose to $US14.58 billion, above analysts' forecasts.