Global chip stocks rally as Super Micro forecast revives AI demand optimism - Yahoo Finance

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Investors will be paying close attention to Tesla’s third-quarter earnings call on Wednesday afternoon, after chief executive Elon Musk floated the idea of merging the car company with his rocket and AI company, SpaceX. On a call with SpaceX investors on Tuesday, Musk said: “There’s a lot of merit to combining the companies.”Musk said that the board of directors for both of his businesses had put together special committees to explore the potential merger, but had not yet reached an agreement on the terms of the transaction. The move would require the approval of 50% of all Tesla shareholders. Tesla reported better-than-expected third-quarter earnings on Wednesday, with a reported revenue of $28.05bn and $0.48 on earnings per share. That beat Wall Street’s projections of $27.9bn in revenue, with $0.43 on earnings per share. Still, the company came in at a slightly lower revenue than last quarter, which was $28.23bn. And its automotive revenue dropped 3% from the year prior. “We maintained strong momentum on many projects spanning Super Intelligence (SI), robotics and renewable energy that will be critical to building a future of Amazing Abundance,” the company wrote in its report.