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Morning Brief | SpaceX and Tesla form merger discussion committees; AI becomes SpaceX's largest revenue source

Musk confirmed at SpaceX's Q3 earnings call that SpaceX and Tesla have each formed special committees to discuss a merger, and the deal would ultimately require shareholder approval. SpaceX's Q3 revenue rose 161% year over year to $14.58 billion, with net profit of $4.4 billion. Its AI business revenue grew to $7.56 billion, nearly 10 times the year-earlier level, becoming its largest revenue source, mainly from renting data center compute to customers including Anthropic, Google, and Reflection AI.

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