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Elon Musk's rocket company SpaceX announced on February 2 that it had acquired his own artificial intelligence startup xAI. It did not disclose financial terms. But, as Bloomberg wrote earlier on Monday, citing sources, after the deal, the valuation of the combined company will be about $1.25 trillion - that's the amount that was named in a memo to SpaceX employees, the agency's interlocutors said.
According to them, the shares of the new structure will be worth $526.59. One of the sources informed that the deal consists entirely of securities exchange.
SpaceX said in a statement that the goal of the purchase is to "form the most ambitious vertically integrated innovation engine on Earth (and beyond), combining AI, rockets, space internet, direct connectivity to mobile devices," as well as social network X, which xAI merged with last March.
The merger between the rocket company and the AI model developer is no accident: Musk has been hatching plans to put data centers in space, the FT notes . "The global demand for AI power simply cannot be met by terrestrial solutions," the company said in a statement. The businessman is obsessed with the idea that SpaceX could be the first in the world to deploy data centers in space, sources told The Wall Street Journal. It was this goal, they said, that pushed Musk to accelerate preparations for the IPO.
According to the Financial Times and Reuters, SpaceX may list as early as this year. One of the Bloomberg sources specifies that the company expects to hold an initial public offering at the end of the year.
This article was AI-translated and verified by a human editor
