华尔街日报报道称，马斯克计划以 AI 为核心推动估值 2 万亿美元的 SpaceX 与估值 1.5 万亿美元的 Tesla 合并。报道指出，SpaceX 的 AI 业务三季度营收达 75.6 亿美元并扭亏为盈，其财务实力使其能够吸收 Tesla；合并的逻辑在于将 Tesla 的 Robotaxi 与 Optimus 机器人作为前端，而 SpaceX 的数据中心与卫星链路则作为基础设施。
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.
来源：Rohan Paul · x.com