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Tesla profit falls 43% amid AI spending; companies explore possible merger with SpaceX

Tesla reported a decline in net profit for the third quarter to $787 million due to rising spending on AI, robotics and autonomous transport. Revenue remained almost unchanged at $28 billion. Meanwhile, Elon Musk said Tesla and SpaceX have formed committees of independent directors to explore a possible merger; deal terms have not been agreed and there is no guarantee it will happen.

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