SpaceX to take over Elon Musk's AI firm
AI Summary
SpaceX is acquiring Elon Musk's AI startup, xAI, known for its Grok chatbot, in a deal that aims to integrate AI, rockets, space-based internet, and media. The deal values xAI at $125 billion and SpaceX at $1 trillion. This consolidation follows Tesla's recent $2 billion investment in xAI, despite shareholder concerns about resource allocation. Musk envisions xAI as an "orchestra conductor" for Tesla's autonomous robots. Analysts suggest this merger positions SpaceX for a potential public listing, allowing it to present a capital-efficient growth narrative to investors. Musk believes space-based AI is the long-term solution to energy needs, with an immediate focus on launching AI satellites.
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