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SpaceX is in advanced talks to combine with xAI Corp., according to people familiar with the matter, as billionaire Elon Musk moves quickly to consolidate his empire.
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The rocket and satellite group and the artificial intelligence firm have informed some of their investors about the plans, the people said, asking not to be identified because the information is private. They could announce an agreement as soon as this week, some of the people said.
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Deliberations are ongoing and talks could still drag on longer or fall apart, the people said. Representatives for SpaceX and xAI didn’t immediately respond to requests for comment outside regular business hours.
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A deal would combine two of the largest closely held companies in the world. xAI raised funds at a US$200 billion valuation in September, while SpaceX was set to go ahead with a share sale in December at about an US$800 billion valuation, Bloomberg News reported at the time.
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A merger would also bring together Musk’s cash-burning startup and the more mature SpaceX, which makes the rockets and satellites needed to potentially enable the billionaire’s vision of putting data centres in space to do complex computing for AI. SpaceX is requesting permission to launch as many as one million satellites into the Earth’s orbit for the plan, according to a filing Friday.
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Reuters reported last week that SpaceX and xAI were in discussions to merge, citing a person briefed on the matter and company filings.
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SpaceX, which is looking toward a potential initial public offering that could value it at about US$1.5 trillion, has also discussed the feasibility of a tie-up with Musk’s Tesla Inc., Bloomberg News has reported.
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With assistance from Mark Bergen, Loren Grush and Kurt Wagner
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English (US)