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Commissions formed to study SpaceX Tesla merger
SpaceX and Tesla are currently exploring the possibility of a merger, and they have formed special committees to discuss this, at the request of shareholders. Elon Musk said that merging the two companies would be "a good idea" and believes there are many benefits to collaboration, especially in developing artificial intelligence software, chip design, the TeraFabs project, and satellite launches. The TeraFabs project is expected to produce its first experimental chip in May or June 2024, with mass production beginning by the third quarter of 2028. The announcement led to a rise in both companies' stocks after aftermarket trading, with expectations that the combined entity would dominate the AI market. Meanwhile, SpaceX experienced a 161% jump in third-quarter revenues, and Starlink's subscriber count reached 13.6 million.
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