Billionaire Elon Musk said on Wednesday he regrets some of the posts he made last week about U.S President Donald Trump as they went "too far".

Tesla Motors shares of the company rose 2% in premarket trading.

Trump and Musk began exchanging insults last week on social media, with the Tesla and SpaceX CEO describing the president's sweeping tax and spending bill as a "disgusting abomination."

Trump said on Saturday their relationship was over but has since said that he would not have a problem if Musk called and wished him well.

"I regret some of my posts about President Donald Trump last week. They went too far," Musk wrote in a post on his social media platform X.

He did not say which specific posts he was talking about.

Since the dispute began, Musk has deleted some social media posts critical of Trump, including one signaling support for impeaching the president.

Sources close to Musk had said his anger has started to subside, and that they believe he may want to repair his relationship with Trump.