Musk

Elon Musk, founder of SpaceX (SPCX) and CEO of Tesla (TSLA), said it would be “an honor” to hire embattled Nvidia (NVDA) CEO Jensen Huang, following reports that Nvidia’s board may be considering removing him from the company.

Late Wednesday

Democratic lawmakers preparing to take control of Congress in January said Sunday they would investigate Elon Musk, scrutinize corporate conduct and examine decisions by senior Trump administration officials.

For investors, the planned inquiries could bring legal expenses, disclosure demands and reputational risks

He went on to say that SpaceX had “done more to defend Ukraine than any private company on Earth” and reiterated his stipulation that Starshield was a different system and controlled by the US government, adding: “What they decide to do is up to them.”

He added in a later post: “[Starlink] can be used for infrastructure that is military, but it cannot be used for unequivocally offensive strikes that make it fair game to be struck back.”

Reacting to Musk’s post, Beskrestnov wrote on Telegram that Ukraine “physically cannot use” commercial Starlink for long- and middle-range drone strikes.

There was no immediate comment from the country’s defence ministry.

Ukraine uses both the civilian service Starlink and the more secure Starshield, depending on what communications are needed, both of which run on networks of low Earth orbit satellites launched by SpaceX.

Starlink allows military units to co-ordinate, particularly in remote areas on the battlefield, while Starshield allows Ukrainian drone operators to see targets in real time, as well as operate interceptor drones.

Russia is not authorised to use Starlink, so when Ukraine sends long-range missiles or drones deep into Russia to hit oil refineries, the network does not work.

Ukraine’s Defence Minister Yevhenii Khmara said earlier on Saturday that the military was now recording a “stable connection”, with drones now able to reach speeds in excess of 400km/h (249mph). Kyiv previously said the connection would cut out above 161km/h.

“The speeds are now where they need to be,” Ukrainian President Volodymyr Zelensky wrote on Telegram.

Elon Musk has said he likes the idea of a merger of Tesla and SpaceX, two of his most notable companies, and it is under active consideration.

“Do I think it would be a good idea? Yes,” Musk said during a call with financial analysts over the quarterly business results of SpaceX on Tuesday.

While Musk noted the certainty of such a merger should not be assumed, and it would need shareholders’ support, he said special committees within both companies have been formed to examine the move.

“The special committees have not reached agreement on terms of any transaction and there’s no guarantee that they will,” Musk added. “But I do think there is a lot of merit to merging and a lot to be gained.”

With Tesla valued roughly $1.5 trillion and SpaceX valued at $2 trillion, a combination of the two companies would mark one of the largest mergers in history.

Shares of SpaceX rose 8% in after hours trading.

The company, which builds space rockets and Starlink internet satellites, is now expanding into offering cloud compute capacity for other tech companies, like Anthropic and Google.

That line of business has become the most profitable part of SpaceX, bringing in $7.5bn according to the latest quarterly results. Starlink also tallied revenue of $5.2bn.

SpaceX as a whole, however, is not profitable and has lost $1.1bn so far this year.

Shares of Tesla, which reports its own quarterly results on Wednesday, rose 2% after being down slightly for weeks.

Over the last year, Musk has taken to bringing more of his various companies under fewer banners. Before it went public earlier this year, SpaceX acquired xAI and X, the platform formerly known as Twitter, both of which Musk owned.

The recent launch of Terafab, a combined effort to manufacture computer chips between Tesla and SpaceX, was another signal that Musk sees his companies as potentially more effective when working together.

Musk said on Tuesday a full merger between the two companies would make sense for the work each is doing around chips, artificial intelligence, software and more.