Ryan Mac, Kate Conger, Maureen Farrell and Rob Copeland
SpaceX, the rocket and satellite maker led by Elon Musk, said on Monday it had acquired xAI, the artificial intelligence company controlled by Mr. Musk, a sweeping move to consolidate his business empire as it faces questions about the cost of its A.I. ambitions. The exact financial details of the deal were not disclosed, but the acquisition cements SpaceX’s standing as the most valuable private company in the world, and creates a company worth more than $1 trillion.
The combined company, with a portfolio including rockets, an A.I. chatbot and the social media platform X, will probably move forward with an initial public offering around June, said two people familiar with the plan who spoke on the condition of anonymity because the details weren’t public. Mr. Musk hopes to raise about $50 billion with the offering, they added.
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