SpaceX jumps 10% after $14.6 billion quarter and Tesla tie-up talks
What's new: Musk said both boards formed committees to examine a merger that could become the biggest deal on record.
SpaceX shares rose 10% Wednesday after the newly public company posted third-quarter revenue of $14.6 billion and swung to a $4.4 billion profit, while Elon Musk disclosed early talks about combining SpaceX and Tesla. Operating income reached $2.8 billion, compared with a net loss of $1.05 billion a year earlier. The company said growth was driven by Starlink and its artificial-intelligence infrastructure business, which it now calls Super Intelligence. Revenue in that unit climbed to $7.56 billion from $813 million a year ago. SpaceX also projected first-quarter 2027 revenue of $33 billion to $37 billion, above analyst estimates compiled by LSEG. Other space stocks including Rocket Lab, Intuitive Machines and AST SpaceMobile also gained.