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Bloomberg reported, citing sources: the boards of directors of Elon Musk's two companies are discussing the terms of a combination. The combined value of the businesses exceeds $3.4 trillion - by price, this would be the largest deal of its kind in corporate history.
Alphabet (the holding company that owns Google) bought an additional 3.85 million SpaceX shares in the third quarter, bringing its stake to 555.04 million shares. At the November 5 closing price, that is about $68.6 billion - and that is noticeably less than the stake was worth in the summer.
Production of the Cybertruck pickup at the Gigafactory Texas plant will stop by mid-2027, and the freed-up capacity will go to the driverless Cybercab taxi. From January to September 2026, 11,586 Cybertrucks were sold in the US, whereas Elon Musk had counted on 250,000 vehicles a year.
Tesla shares closed on Wednesday, November 4, at $385.19, losing $13.31 on the day, while the Dow Jones index gained 3.00% - its strongest session in 19 months. The market is pricing in political risk after the Democrats' victory in Congress.
According to vote counts in the US midterm elections, Democrats are taking both chambers of Congress. Index futures fell overnight, then reversed by the morning of November 4: Nasdaq +2.2%, S&P 500 +1.8%.
Vivek Ramaswamy's American Strive increased its Bitcoin holdings by 16.8% in a week - to 43,000 BTC. The deal was closed with money from a $630 million preferred stock offering.
In 24 hours, BTC gained about 2.4% and rose to $83,500 - a weekly high. The rebound follows last week's decline, when crypto tumbled along with Nasdaq on a hot US inflation report.
Elon Musk confirmed on SpaceX's quarterly call: the boards of directors of both companies have formed special committees to discuss a merger. The deal could become the largest corporate one in history; Tesla shares in after-hours trading have already risen to $380.29.
SpaceX reported third-quarter 2026 results after market close on October 20: revenue of $14.58B versus the $12.74-13.0B consensus and net income of $4.40B versus a $1.05B loss a year earlier.
On Tuesday and Wednesday after the US market close, quarterly reports from Tesla, Meta, Netflix and SpaceX are released. Nasdaq values just the first three at a combined $3.6 trillion - the reaction in their shares drags the entire tech sector along with it.
