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00:02Elon Musk said Tuesday that a merger between SpaceX and Tesla would be a good idea,
00:07confirming both companies have formed special committees
00:09to discuss a potential deal, according to Reuters.
00:13Shares rose 4.9% in extended trading following the announcement
00:17and the company's first quarterly profit since going public.
00:21SpaceX reported adjusted earnings of $0.45 per share, beating estimates of $0.13.
00:27Revenue surged 161% to $1,458 billion,
00:31driven by AI revenue that climbed nearly tenfold to $756 billion.
00:35Net income reached $4.4 billion, reversing a $1.1 billion loss a year earlier.
00:43Musk projected annual recurring revenue could reach $500 billion to $1 trillion by the end of 2027,
00:48while SpaceX expects continued heavy investment in AI infrastructure.
00:52For all things money, visit Benzinga.com.
