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.
Shares in data centre operator NextDC fell more than 40 per cent on Wednesday after returning to trade following a suspension. The ASX200 still finished the day in positive territory. Reserve Bank deputy Andrew Hauser said the central bank faces tough choices, as a growing share of businesses think higher inflation may be the new normal. This has raised expectations of a rate hike in November.