JPMorgan Chase CEO Jamie Dimon and Tesla chief Elon Musk, once adversaries in a prolonged legal battle, have settled their differences, the banker told CNBC in an interview on Wednesday.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

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Dimon reiterated that he remains cautious about global deficit spending, the potential for persistent inflation and geopolitical issues.

JPMorgan Chase, the biggest bank in the U.S., employs about 5,000 people at operations centers and branches in the San Antonio area

Dimon’s credibility with markets is rooted in his actions in advance of the 2008 recession: He noticed that underwriting standards on Wall Street were declining and instructed his firm to trim its exposure to subprime mortgages beginning in late 2006. That helped JPMorgan avoid the worst of the crisis.

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JPMorgan CEO Jamie Dimon said that he and Elon Musk have "hugged it out" and resolved their differences, going so far as to compare the billionaire to Albert Einstein. " SpaceX, Tesla, Neuralink, I mean, the guy is our Einstein," Dimon told CNBC.

Jamie Dimon, the CEO of JPMorgan Chase, publicly backed Elon Musk’s leadership of the newly created Department of Government Efficiency (D.O.G.E) today.