"Elon Musk is combining SpaceX and xAI as he overhauls his sprawling business empire. Musk told workers in a Monday memo that SpaceX has acquired xAI, his AI company, a source familiar with the matter confirmed to Business Insider. SpaceX, which Musk founded in 2002, is reportedly gearing up for an initial public offering this year that could value the Starship maker at $1.5 trillion."
"xAI, which the world's richest man founded in 2023 to challenge OpenAI and Google in the race to build superintelligent AI, recently raised $20 billion in a funding round that valued the controversial AI startup at $230 billion. The mega-deal is the latest sign that Musk is consolidating his various companies, which also include Tesla, the tunneling startup The Boring Company, and brain implant firm Neuralink."
"Combining SpaceX and xAI comes as Musk increasingly shifts his companies toward his vision of an AI-powered future. Musk has said that SpaceX will launch orbital AI data centers in the coming years that could efficiently harness power from the sun. Last Friday, SpaceX filed a request with the FCC to launch as many as one million satellites to serve as orbital data centers."
SpaceX has acquired xAI as part of a consolidation of Elon Musk's companies. xAI raised $20 billion in a funding round valuing it at $230 billion after its 2023 founding to compete with OpenAI and Google. SpaceX and Tesla each recently invested $2 billion in xAI. xAI previously acquired X, the platform formerly known as Twitter. SpaceX is preparing for an initial public offering that could value the company at $1.5 trillion. SpaceX plans to launch orbital solar-powered AI data centers and filed with the FCC to deploy up to one million satellites. Combining xAI with SpaceX enables access to capital and an orbital network to build larger AI models despite controversy over Grok.
Read at Business Insider
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