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Tech News
Tesla said it has started manufacturing production-quality units of its Optimus humanoid robot at its Fremont, California plant, previously used solely for EV assembly. The announcement came alongside third-quarter results showing flat revenue of $28.04 billion and net income of $787 million, down 43% year-over-year, as spending on AI and robotics surged.
On Tesla's Q3 earnings call, autonomy VP Ashok Elluswamy said the company expects to let customer-owned Model Y vehicles join its robotaxi fleet around the second quarter of 2027. He said the software is shared with Tesla's Cybercab and will be rolled out via a V15 update, with the remaining requirement being integration into Tesla's geofencing and fleet-management systems.
Tesla reported $28.0 billion in revenue and $1.7 billion in net income for the quarter ending September 2026, roughly flat revenue and a 4 percent profit drop versus the same period in 2025. Deliveries fell 2.1 percent year-over-year, a decline Tesla had anticipated following the September 2025 expiration of the $7,500 federal EV tax credit. The results came days after Tesla showcased a flying, flipping prototype of its next-generation Roadster in Waco, Texas.
On SpaceX's earnings call, CEO Elon Musk said merging SpaceX and Tesla would be a 'good idea' and noted that special committees have been formed at both companies' boards to explore the possibility. Musk is set to discuss Tesla's quarterly results Wednesday, with analysts expecting 43 cents earnings per share on $27.9 billion in revenue, roughly flat versus last year.
Elon Musk said ASML and other key semiconductor equipment suppliers have accelerated deliveries to support the Terafab chip plant being built jointly by Tesla and SpaceX. Speaking on SpaceX's Q3 2026 earnings broadcast on X, Musk targeted volume chip production at the Gibbons Creek, Texas facility by late 2028, with an experimental test chip expected from an Austin research fab around Q2 2027.
Elon Musk announced a special committee has been established to evaluate merging SpaceX with Tesla, a deal he described as a 'good idea.' Musk said he would recuse himself from the discussions due to his conflicted position, while SpaceX separately reported third-quarter revenue up 161% year-over-year.
SpaceX reported third-quarter revenue of $14.6 billion, up 161% year-over-year and ahead of analyst estimates, with net income of $4.4 billion versus a $1.05 billion loss a year earlier. On the earnings call, Elon Musk said he is considering combining SpaceX with Tesla and that both companies' boards have formed committees to discuss the idea.
Elon Musk said special committees at Tesla and SpaceX are evaluating a potential merger of the two companies, which together could be valued around $3.5 trillion. He emphasized no agreement has been reached and any deal would require shareholder approval, with at least 50% of Tesla shareholders needing to sign off.
Elon Musk confirmed on SpaceX's Q3 earnings call that both companies have set up independent committees to explore merging, but said terms haven't been agreed and a deal isn't guaranteed. Musk said he is recusing himself from the talks due to his dual leadership role, and noted any agreement would require shareholder approval. The move follows SpaceX's earlier absorption of xAI in February and ongoing joint work with Tesla on the Terafab chip project.
Elon Musk disclosed during SpaceX's Q3 2026 earnings call that both companies have set up special committees of independent directors to explore a possible merger, at shareholders' request. Musk, who leads both firms, said he and his brother Kimbal are excluded from the discussions as conflicted parties, and cautioned that no deal is guaranteed.
Elon Musk confirmed on Tuesday that he favours merging Tesla and SpaceX, and said special committees have been set up to assess the possibility. He cautioned that no agreement has been reached and a deal is not guaranteed. Tesla is valued at roughly $1.5tn and SpaceX at about $2tn, meaning a combination would be the largest corporate merger on record.
During SpaceX's earnings call, CEO Elon Musk raised the possibility of closer financial links between SpaceX and Tesla, discussed plans for a new launchpad in Louisiana, and projected the company could eventually generate $500 billion in annual revenue. The call covered several other updates on SpaceX's business trajectory, according to reporting on the session.