Deal comes as Musk pursues plans for datacenters and solar-powered satellites in space to propel AI
Elon Musk’s aerospace firm SpaceX has acquired his artificial intelligence business xAI, in a merger that consolidates part of Musk’s empire as SpaceX prepares to go public later this year, at a valuation likely to exceed $1tn.
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”.
Continue reading...