SpaceX acquired xAI and becomes the most valuable company in the world

SpaceX of Elon Musk announced on Monday that it acquired xAI, the artificial intelligence company that is also controlled by him.

The exact financial terms of the deal have not been made known; however, the acquisition makes SpaceX the most valuable company in the world and creates a group with a valuation above $1 trillion.

With the merger, Musk provided a financial lifeline to xAI, which was founded later than its competitors in the Artificial Intelligence space and has spent billions of dollars to make up for lost ground.

At the same time, in this way SpaceX gains a stake in the AI sector and will strengthen Musk’s ambition to build data centers in space, says the NYT.

Musk is actively involved in the management and ownership of 6 companies: Tesla, SpaceX, X, Neuralink, The Boring Company and xAI.

“SpaceX acquired xAI to create the most ambitious, vertically integrated innovation machine above (and beyond) Earth, with Artificial Intelligence, rockets, space internet, direct communication with mobile devices, and the world’s leading real-time information platform and freedom of speech,” Musk wrote in a memo to his employees.

This unusual composition shows how Elon Musk, the richest man in the world, increasingly views his various businesses as interconnected, even if there is no obvious connection between them.

As he did last year, that is, by merging X with xAI to unify their data, computing power and human resources.