It's no surprise that Musk is leaning into AI — the CEO has spoken about the idea in many of Tesla's earnings calls over the last year. What sets his approach apart, analysts say, is the way he's blending the boundaries between his companies.

An Elon Musk company’s artificial intelligence chatbot that called itself “MechaHitler” last week will soon be helping the military as the Pentagon pens deals totaling $800 million with four U.S. tech...