00:02The world's richest man Elon Musk has announced he would back a merger of his rocket and AI company SpaceX
00:09and his automotive firm Tesla.
00:12SpaceX reported its first quarterly profit since going public, driven by deals to rent out computing power to AI firms.
00:20Musk said the two companies could benefit from working together on AI software, cheap design, robotics and space-based computing.
00:28Shares in SpaceX rose nearly 5% following the comments.
00:33The South African and U.S. entrepreneurs stressed special independent committees at both SpaceX and Tesla had been established to
00:42study the idea at the request of shareholders.
00:45As chief executive and largest shareholder of both companies, Musk added that he could not take part in their talks
00:52because he had a conflict of interest.
00:54SpaceX began trading on the Nasdaq on the 12th of June.
00:58It posted net income of 3.8 billion euros for the July-September period, as well as a 161%
01:05rise in revenues to 12.6 billion euros.
01:08The NEXT
