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Musk confirms SpaceX Tesla merger talks
Businessman Elon Musk has stated that his companies SpaceX and Tesla are in talks regarding a potential merger, describing the move as a good idea. Independent committees are being formed to study the proposal in preparation for presenting it to shareholders. This comes at a time when SpaceX achieved a quarterly profit of $4.4 billion, driven by growth in artificial intelligence revenues, and the company's shares rose following the announcement. The potential merger would offer benefits across fields such as artificial intelligence, chip design, robotics, and space communications, with pilot production of the "TeraFabs" chips set to begin next year, leading to commercial production by the third quarter of 2028.
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