At the very beginning, it's important to understand that Office 365 is a global SaaS collaborative suite of applications. And in this description, we have collaborative. So, yes by default, all the people and accounts that will be created in one tenant will be able to see each other, work together, share documents with SharePoint Online or OneDrive 4 Business. Because, it's one of the main objective (with permissions and delegation that can always be configured).
If your two companies have each one a dedicated Active Directory, you can completely configure only 1 AAD Connect that will be able to parse your 2 on-prem Active Directory and have all your accounts synchronized in one tenant. And you can also have 2 (or more) domains configured to one tenant.
But, in this scenario, you may have some difficulties if you want to hide some accounts or have a clear and logic separation in your daily manangement or billing. It's not impossible, we can hide some stuff in the GAL or manage permissions/delegations with groups to access to SPO sites and so on... but it will require some work on your side. And when I'm reading your first message, it seems the separation looks important to you.
If really, your companies are that different and must be separated in organization, billing, works and so on. You should consider to have 2 different tenant (depending on the way you're working).