SpaceX's artificial intelligence division has overtaken its rocket connectivity arm to become the company's biggest source of revenue, as the group reported a 161 per cent jump in third-quarter revenue to $14.6 billion (£12.0 billion) and net income of $4.4 billion (£3.6 billion) and Elon Musk confirmed it is examining a possible merger with Tesla.
Musk said the boards of SpaceX and Tesla had formed special committees of independent directors, at shareholders' request, to examine a potential combination. He said the committees had not agreed terms and there was no guarantee a deal would proceed. Musk added that he could not take part in their discussions because of his conflicts of interest.
