Elon Musk has committed about $366 million to the 2026 election cycle across more than 40 races, with at least $276 million flowing to Republican groups and his America PAC since July, according to CNBC's analysis of FEC filings. Meanwhile SpaceX has secured $6.78 billion in federal contracts through October 1, nearly double its 2024 total, per research firm FedScout, as Tesla, SpaceX and Musk's AI ventures face pending government decisions on defense spending, launch licenses, spectrum, autonomous vehicles and data centers.
Elon Musk said on SpaceX's latest earnings call that there is
Ukrainian officials say SpaceX abruptly throttled speeds on its Starshield service, disrupting internet connectivity for drones and aircraft moving faster than 100 mph. A senior Ukrainian commander told The New York Times the restrictions cost his unit over $1 million and delayed missions by three days, while reports differ on whether Elon Musk or the Trump administration ordered the change.
Days after demonstrating a Tesla Roadster fitted with SpaceX cold-gas thrusters, Elon Musk announced on SpaceX's third-quarter earnings call that the boards of Tesla and SpaceX are forming special committees to explore merging the two companies. Musk cited 'synergies' between the firms as the rationale.
Ukraine's armed forces are using a basic version of SpaceX's Starshield service, which runs on Starlink's standard hardware but includes different features tailored for military use. The system supports communications and coordination across Ukrainian military operations.
The Nasdaq Composite recovered most of Friday's losses after positive developments tied to SpaceX, Anthropic and Nvidia boosted sentiment across AI-related technology stocks. The gains spanned multiple parts of the so-called AI supply chain, from chipmakers to AI software firms and related ventures.
The Wall Street Journal reported that Elon Musk, not the US military or President Trump, made the call to throttle Starshield's military-grade Starlink service used by Ukraine. The cap limited connectivity for hardware moving faster than 160 kph, degrading the performance of Ukrainian offensive and interceptor drones. Both Musk and Trump have denied Trump ordered the restriction, which followed public criticism from both men over Ukrainian strikes on Russian refineries.
SpaceX's third-quarter earnings exceeded Wall Street expectations, producing an unexpected profit that analysts described as a blowout result. Elon Musk responded by declaring that a previously stated ambitious goal is now within reach, without detailing specific figures or timelines in the reporting.
SpaceX executives said on an earnings call that the company plans to attempt catching both the Super Heavy booster and Starship upper stage at the Starbase tower during the rocket's 15th test flight, targeted for November. Elon Musk said data from Flight 14 gives SpaceX confidence to try the dual catch, while president Gwynne Shotwell said the FAA license is expected to permit return-to-launch-site landings over land, including northern Mexico.
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.
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