Musk’s SpaceX Combines With xAI at $1.25 Trillion Valuation (3)

Elon Musk is combining SpaceX and xAI in a deal that values the enlarged entity at $1.25 trillion, as the world’s richest man looks to fuel his increasingly costly ambitions in artificial intelligence and space exploration.

The acquisition of xAI was announced in a statement on SpaceX’s website signed by Musk and confirming a Bloomberg News report earlier Monday.

The deal gives SpaceX a valuation of $1 trillion, and xAI a value of $250 billion, people familiar with the matter said. The combined company’s valuation was announced to employees in a memo on Monday, some of the people said earlier. ...