SpaceX and Tesla Form Committees to Explore Potential Merger, Musk Says

SpaceX and Tesla have formed committees of independent directors to explore a potential merger, Elon Musk said Tuesday on SpaceX's earnings call. Musk, who leads both companies, said he is a conflicted party and cannot participate in the discussions, but added, "I think it would be a good idea." Musk said "there's a lot to be gained" from cooperation on technologies including AI, chips, robotics and connectivity, as the two companies increasingly collaborate on chips and AI projects. He cautioned that a deal is not certain, calling that conclusion "overstating it," and noted that 50% of Tesla shareholders would need to approve any transaction, which he described as a high hurdle. The story is developing.