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Tesla Profit Slumps as Elon Musk’s Car Company Considers Merging With SpaceX

The carmaker, which is controlled by Elon Musk and is considering merging with another of his companies, SpaceX, spent heavily on artificial intelligence and other new technologies.

© Mike Blake/Reuters

Tesla remains dependent on the Model Y sport utility vehicle and Model 3 sedan for much of its revenue.
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Elon Musk Says SpaceX and Tesla Are Exploring a Merger

A deal would consolidate Elon Musk’s holdings in rockets, cars and artificial intelligence into a company worth well over $3 trillion.

© Jeenah Moon/Reuters

SpaceX’s blockbuster public offering on the Nasdaq in June helped make Elon Musk, who is also the chief executive of Tesla, the first person to be worth more than a trillion dollars.
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