SpaceX and Tesla boards set merger committees, Elon Musk recuses
Business
Big news: The boards of SpaceX and Tesla have set up special committees to see if the two companies should merge. This kicked off after shareholders showed real interest.
Elon Musk, who leads both companies, is stepping back from the talks because of a conflict of interest, but he's made it clear he supports the idea.
SpaceX and Tesla shareholders must approve
The committees are made up of independent directors who will weigh the pros and cons.
Musk believes merging could fast-track advances in AI, robotics, and even SpaceX's Starmind project.
But nothing's final: any merger needs broad shareholder approval at both companies before anything moves forward.