Update: SpaceX, Tesla Form Special Committees to Explore Potential Merger

04:40 AM EDT, 10/21/2026 (MT Newswires) -- (Updates with share movement in the last paragraph.) SpaceX (SPCX) and Tesla (TSLA) have formed special committees to explore a potential merger, CEO Elon Musk said, news outlets reported late Tuesday, citing SpaceX's earnings webcast. Musk said there is merit to combining the companies, citing potential gains from cooperating on developing superintelligence software, according to the reports. Musk said he is not participating in the committee discussions because he is a conflicted party, and that the committees have yet to agree on terms, the reports said. SpaceX shares were up nearly 11% in Wednesday premarket activity, while Tesla rose 2.3%.