Tesla may get rocket boosters for real this time
TSLA•Elon Musk said a Tesla-SpaceX merger would be “a good idea” and that the companies had formed special committees to discuss a union. The combined company would be worth about $3.5 trillion, while SpaceX shares rose 8% in extended trading.
1. Merger discussions
Musk said on Tuesday that a merger of Tesla and SpaceX would be “a good idea” and that the companies had formed special committees to discuss a union. The tie-up would create a company worth about $3.5 trillion, ranking fifth globally between Microsoft and Amazon. The article noted substantial regulatory risks.
2. Market moves
NextDC shares fell nearly half after the Australian data centre operator sharply cut its revenue forecasts for the year ahead and put future developments on hold. Brent crude rose 1.5% to $110.41 a barrel in Asian trade amid concerns about Middle East supply, Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia.
