9AM HOUR: SpaceX Surges on Q3 Beat and Musk Comments on Potential Tesla Merger, Netflix Slides 10/21/26

SpaceX's AI-compute-driven revenue surge and merger talk with Tesla are reshaping how investors value Musk's combined empire amid broader AI capex skepticism.

• SpaceX surges on AI compute: Revenue jumped 161% to a first profitable public quarter, driven by data-center deals; JPMorgan hiked its target from $240 to $500 and Musk floated $500B-$1T ARR by end-2027.
• Musk-backed merger idea: Musk called a SpaceX-Tesla merger 'a good idea' though not certain, with special committees exploring an all-stock deal needing 50% of ALL outstanding Tesla shares to approve.

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