Elon Musk announced that SpaceX would merge with his artificial intelligence company, xAI, creating the world’s most valuable private company.
The new combined company is valued at around $1.25 trillion, Bloomberg News reported. The valuation is over double that of its nearest private competitor, OpenAI, valued at around $500 billion.
In his announcement of the merger, Musk said the move was a bid to “accelerate humanity’s future.”
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“SpaceX has acquired xAI to form the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform. This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the
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