Elon Musk said Tuesday that he would like to see the consolidation of his business empire by formally merging his two largest companies, SpaceX and Tesla.

"Do I think it would be a good idea? Yes," Musk said of a potential merger. He was speaking during a question-and-answer period as part of SpaceX's third-quarter earnings call. Musk said, ultimately, it not his decision. "But at the end of the day the shareholders have to be supportive of this."

Musk's talk of a merger comes after a busy year in which SpaceX already acquired Musk's artificial intelligence firm, xAI, in February. In June, SpaceX went public with the largest initial public offering on record.

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