SpaceX Shares Surge Over 9% on Robust Q3 Beat and Tesla Merger Talks

SpaceX shares traded up over 9% on Wednesday following stronger-than-expected third-quarter financial results and news of potential merger discussions with Tesla. The company posted quarterly revenue of $14.6 billion, up 161% year-on-year and exceeding Wall Street expectations of $12.9 billion, alongside a quarterly profit of $4.4 billion. Artificial intelligence accounted for over half of sales. Gains were further supported after CEO Elon Musk confirmed that independent special committees have been formed to explore a potential merger between SpaceX and Tesla.