Energy
Reuters
Elon Musk’s SpaceX is taking over his artificial intelligence (AI) start-up, as the billionaire continues to unify some of his many business interests.
SpaceX confirmed the deal to acquire xAI, a smaller firm known for its Grok chatbot, posting a memo from Musk about the merger on its website.
In the note, Musk said the combination would form an “innovation engine” putting AI, rockets, space-based internet, and media under one roof.
Terms of the deal were not disclosed. However, a source familiar said it valued xAI at $125bn and SpaceX at $1tn, making it the most valuable private company ever.
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