SpaceX disclosed $7.56 billion in revenue for its artificial-intelligence segment in the latest quarter, while a newly formed committee is reviewing a possible merger with Tesla, according to the companies’ earnings releases. The merger discussion follows a proposal to unite the firms’ AI initiatives under a single corporate structure, a move that could reshape their combined market position.
Within the AI division, revenue classified as ‘superintelligence solutions and infrastructure’ rose to $7 billion, more than triple the prior quarter’s figure. Analyst Gil Luria of DA Davidson noted that $608 million stemmed from the integration of Cursor, while the remainder likely reflects compute-rental contracts with firms such as Anthropic and Google. Grok’s contribution appears modest.
Tesla’s third-quarter report showed a second consecutive decline in profit, as the company pivots toward autonomous-taxi services and humanoid robot development. A recent Roadster demonstration was highlighted, but production is not expected for several years and the model carries a high price tag. No specific comments on the merger appeared during Tesla’s earnings call.
SpaceX has already purchased $131 million of Tesla’s low-selling Cybertruck inventory and previously held Tesla bonds. The two firms announced collaborative AI initiatives named Terafab and Macrohard, intended to develop custom chips and software simulation capabilities respectively. Both projects remain in early stages, with financial and intellectual-property terms still unresolved.
The May S-1 filing described Terafab as a Texas-based chip venture that Intel is loosely partnering with, though the chipmaker’s chief executive affirmed continued interest without committing to a binding agreement. Intel’s Thomas Hannaford did not respond to requests for clarification, and the filing cautions that the collaboration may never be finalized.
Musk projected that Terafab would achieve volume production in the second half of 2028, with a test chip expected by mid-2027. Reuters noted a pattern of missed deadlines across his enterprises, and an analyst’s query about equipment orders received no answer, underscoring uncertainty around the schedule.
From an investor standpoint, the consolidation could bundle AI infrastructure, automotive, and aerospace assets, potentially simplifying financing for large-scale data-center construction. Analysts suggest that a pledge to fund orbital data centers, coupled with the ability to repossess terrestrial facilities if plans falter, might appeal to credit markets seeking substantial collateral.