The space company founded by Elon Musk, SpaceX, has announced the acquisition of xAI — an artificial intelligence startup also owned by Musk, as reported by CNN.
The merger of these two major companies with a limited number of shareholders leads to the formation of the most expensive private entity in the world.
According to the channel, this merger can be seen as a sign that xAI requires funding to compete in the rapidly evolving AI sector, as well as confirmation of the significance of this technology for the future of space exploration.
It was previously reported that Musk plans to establish data processing centers in space to perform complex computations. "The optimal solution is to move resource-intensive developments to a location with abundant energy resources and space," claims the billionaire.
SpaceX, which planned to go public in early summer, earned $8 billion last year with revenues of $15-16 billion. The company was expected to raise up to $50 billion, with its valuation estimated at around one and a half trillion.
