Elon Musk’s SpaceX has acquired his AI group xAI, the billionaire said on Monday, in pursuit of his ambition to develop advanced AI tools powered by data centres in space.
SpaceX paid $250bn for the AI group, according to a person familiar with the matter, basing the price on a recent $20bn funding round that valued the two-year-old start-up at $230bn.
Musk did not disclose financial terms of the deal, but the two companies together are worth just over $1tn following recent funding rounds. The rocket company was recently valued at $800bn in a secondary stock sale.
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