"In a statement announcing the deal, Elon Musk said his goal is to create "the most ambitious, vertically-integrated innovation engine on (and off) Earth." Musk has previously spoken about his aspirations to develop a technology to allow data centers to operate in space, and the merger could be a step to make developing such technology easier, with solar power being the source of energy."
"While the statement announcing the deal did not reveal the financial terms behind it, business media outlet Bloomberg reported the merged company would be valued at $1.25 trillion (roughly 1.06 trillion). This comes ahead of a reported public offering planned by SpaceX in mid-June, which could raise as much as $50 billion. Elon Musk was previously against a SpaceX IPO due to the public scrutiny of another company he owns, electric car maker Tesla, which is being publicly traded,"
SpaceX is acquiring artificial intelligence company xAI to combine AI capabilities with satellite and social platforms. Key products involved include AI chatbot Grok, satellite network Starlink, and social media platform X. The deal aims to create "the most ambitious, vertically-integrated innovation engine on (and off) Earth." Plans include developing technologies to operate data centers in space powered by solar energy to scale compute without imposing hardship on communities and the environment. Bloomberg reported a combined valuation of $1.25 trillion, and a public offering planned in mid-June could raise up to $50 billion. Ongoing projects include developing Starship, the largest rocket ever built.
Read at www.dw.com
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