SpaceX shares jumped after demand for its computing power exceeded expectations, lifting the broader artificial-intelligence stock group along with it. Elon Musk also hinted at a possible tie-up with Tesla in the same update.

Tesla and SpaceX have each formed special committees to evaluate a potential merger between the two Elon Musk-led companies, Musk said Monday. He cautioned that a combination is not guaranteed, even as Tesla shares rallied on the announcement. The companies have not set a timeline for a decision.