Evening Scan

Musk moved from "would be a good idea" to boards forming special committees in about a day. The Tesla–SpaceX merger is now a formal process. Europe's venture market posted a strong quarter, and an AI-infrastructure company reassured its staff about demand.

$3.6tn — the FT's tally for the combined Tesla–SpaceX empire. (Financial Times)

Today's Scan

SpaceX and Tesla boards form special committees to review merger

Musk supports the idea but recused himself from both committees, which consist of independent directors. (TechCrunch)

Rockets, robots and risk: Musk's $3.6tn gamble to merge Tesla and SpaceX (paywall)

The FT says shareholders and global regulators will need convincing. (Financial Times)

Europe's tech funding rebounds to €27.8B, fuelled by billion-euro mega-rounds

Q3 spread across 732 deals, with mega-rounds accounting for most capital deployed. (Tech.eu)

Nscale boss seeks to reassure staff amid AI market jitters (paywall)

Josh Payne said demand remains "insatiable" and cited more than $100B in contracted revenue, with a listing still targeted for year-end. (Financial Times)