SpaceX's stake in Boring Co. helped boost its net income in the third quarter.
SpaceX records $561 million investment gain from stake in Elon Musk's Boring Co.
Source: CNBC
Original reporting
CNBC: read the full reportFollow this story
Earlier reports and follow-ups on the same developing story.
- Elon Musk says SpaceX and Tesla exploring largest merger in history
- Elon Musk confirms he is considering merging Tesla and SpaceX
- Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
- Elon Musk made a $1B investment in Skydance, report says
- SpaceX and Tesla have high election stakes as Elon Musk pours $366 million into campaigns
Related stories
CNBC
Wealthy Chinese move offshore money to U.S. banks as Beijing’s tax net widens
Bankers and lawyers say Chinese clients' demand for U.S. bank accounts has gathered pace as Beijing tightens the screws on Chinese offshore wealth.
CNBC
Japan core inflation in September surges to its highest this year at 2.1%
Core inflation, which strips out prices of fresh food, was in line with the 2.1% forecast by economists polled by Reuters.
CNBC
SK Hynix shares slide after chipmaker scraps Solidigm IPO plans
SK Hynix has shelved plans for a potential U.S. IPO of Solidigm amid market volatility and share price concerns.
CNBC
Etsy bans AI-generated recipes and patterns from its online marketplace
Etsy also laid out clearer rules around AI usage on its platform, including barring sellers from creating bot-generated listings without any human involvement.
BBC Business2 outlets
Grid operator says lights will stay on this winter after concerns
The assurance from the National Energy System Operator comes amid concern from its engineers about their ability to ensure adequate supply.
CNBC
Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
With less than two weeks before the midterm elections, Meta made clear that Mark Zuckerberg is staying in California if the wealth tax passes.