Mr Musk pointed to overlapping interests between the two businesses as justification for combining them, citing opportunities in “super intelligence software, chip design, the TeraFab, obviously robotics.”
SpaceX listed on the stock market in June at a valuation of $1.8trillion, an event that made Mr Musk the world’s first trillionaire.
His estimated fortune now stands at $920billion. Shares have declined since reaching a high shortly after the flotation but edged up more than 6 per cent following Tuesday’s results. Tesla’s stock rose 1 per cent.
Before exploring a tie-up with Tesla, Mr Musk had already folded his AI venture xAI and social network X into SpaceX. The company’s AI business has flourished by selling data centre capacity to firms such as Anthropic.
Tesla has also been in the spotlight recently, having unveiled its long-awaited Roadster last week. The vehicle used compressed-air thrusters to launch off a ramp and perform a mid-air manoeuvre during the showcase.
