Stock market today: Dow futures are flat. SpaceX shares rise in negotiations over Tesla deal

The artificial intelligence business has seen a big boom thanks to SpaceX.

Elon Musk’s rocket company surged in premarket trading after beating Wall Street expectations for revenue, including those from its AI business. He also discussed a potential blockbuster merger with Tesla, a move that would unite Musk’s biggest companies. Together, they have a market value of $3.5 trillion. The news boosts Nasdaq-100 futures.

Shares of Asian chipmakers rebounded after yesterday’s tough session. Elice, the South Korean data center company that failed in its market debut, recouped much of those losses by rising 30% today.

US Treasury yields are rising slightly, while French government bonds are under pressure again. The country’s borrowing costs have risen above 5% for the first time in 24 years as concerns grow over its fiscal and political woes.

Brent oil futures are trading above $109 per barrel due to ongoing tensions in the Strait of Hormuz.