"SpaceX and xAI, both companies led by Elon Musk, could merge ahead of a planned SpaceX IPO this year, according to a report from Reuters. This would bring products like the Grok chatbot, X platform, Starlink satellites, and SpaceX rockets together under one corporation. Company representatives have not discussed this possibility in public. However, recent filings show that two new corporate entities were established in Nevada on January 21, which are called K2 Merger Sub Inc. and K2 Merger Sub 2 LLC."
"Combining the two companies could allow xAI to put its data centers in space, something Musk has said he wants. This move would also fall in line with Musk's recent strategies to consolidate his companies. Last year, SpaceX agreed to invest $2 billion in xAI, according to The Wall Street Journal, and earlier this week, Tesla (also led by Musk) revealed it also invested $2 billion in the AI startup."
SpaceX and xAI, both led by Elon Musk, could merge ahead of a planned SpaceX IPO this year. Two new Nevada entities named K2 Merger Sub Inc. and K2 Merger Sub 2 LLC were established on January 21. A combined corporation would bring the Grok chatbot, the X platform, Starlink satellites, and SpaceX rockets under one roof and could enable xAI to deploy data centers in space, a possibility Musk has expressed interest in. SpaceX and Tesla each invested $2 billion in xAI. xAI acquired X, valuing xAI at $80 billion and X at $33 billion. SpaceX's secondary sale put its valuation near $800 billion and a public listing is being eyed for June.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]