Update
SpaceX Surges 8% as Elon Musk Confirms Potential Merger with Tesla
SpaceX reported a 161% year-over-year increase in revenue for the third quarter of 2026, surging 8.06% to over $164 in early trading. CEO Elon Musk confirmed the establishment of special committees at SpaceX and Tesla to explore a potential merger, which would combine the companies' estimated $2 trillion and $1.5 trillion valuations, respectively. The merger would create a technology giant with an estimated $3.5 trillion value, and discussions remain exploratory with final terms yet to be determined.