Elon Musk plans to merge SpaceX with xAI in a deal that encompasses the billionaire’s increasingly costly ambitions to dominate artificial intelligence and space exploration.
The deal was announced in a statement on SpaceX’s website signed by Musk. The acquisition, which gives the combined company a valuation of $1.25 trillion, was announced to employees in a memo on Monday.
The acquisition of xAI was announced in a statement on SpaceX’s website signed by Musk.
The deal gives SpaceX a valuation of $1 trillion, and xAI a value of $250 billion, people familiar with the matter said. The combined company’s valuation was announced to employees in a memo.
SpaceX said it acquired xAI to “form the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform.”
