Elon Musk merges SpaceX with xAI at $1.25tn valuation
by Nick Robins-Early from on (#739R2)
Aerospace business and artificial intelligence firm to unite for IPO as world's most valuable private company
Elon Musk's aerospace company SpaceX has acquired his artificial intelligence business xAI, in a $1.25tn (910bn) merger that consolidates part of Musk's empire as SpaceX prepares to go public later this year.
The two companies announced the deal on Monday in a statement on SpaceX's website, saying the merger would 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".
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