WSJ：马斯克考虑将 SpaceX 与 Tesla 围绕 AI 合并
马斯克想让 SpaceX 吃掉 Tesla，靠的是 AI 业务单季 75.6 亿美元营收和 44 亿美元利润，看两家的算力和机器人怎么拼。
据 WSJ 报道，马斯克希望让估值 2 万亿美元的 SpaceX 与 1.5 万亿美元的 Tesla 围绕 AI 合并。SpaceX 的 AI 业务已成为其最大业务，第三季度营收达 75.6 亿美元，一年前仅为 8.13 亿美元。该季度 196 亿美元的资本支出中有超过 164 亿美元投向 AI，使 SpaceX 录得 44 亿美元季度利润，而上年同期亏损 10.5 亿美元。合并逻辑是把 Tesla 的 robotaxi 和 Optimus 机器人作为前端，SpaceX 的数据中心和卫星链路作为底层基础设施。
WSJ: Musk wants to combine a $2T rocket company with a $1.5T carmaker around AI.
SpaceX’s AI unit is now its largest business, with third-quarter revenue of $7.56B against $813M a year earlier, and more than $16.4B of its $19.6B quarterly capital spending went to AI.
That growth turned SpaceX to a $4.4B quarterly profit from a $1.05B loss, giving it the financial weight to absorb Tesla rather than the reverse.
The AI case for the merger treats Tesla’s robotaxis and Optimus robots as the front end and SpaceX’s data centers and satellite links as the infrastructure they would depend on.
