Ahead of IPO, Elon Musk’s SpaceX to Merge with xAI, Tesla?

Elon Musk’s SpaceX may combine with Tesla and xAI, according to the reports. According to sources, SpaceX is exploring a possible merger with Tesla Inc., as well as an alternative partnership with the artificial intelligence business xAI.

The prospective merger between SpaceX and xAI was previously reported by Reuters. Reuters quoted a source familiar with the situation as saying that xAI shares would be exchanged for SpaceX shares. According to Reuters, some xAI executives may be able to choose to be paid in cash rather than SpaceX shares as a component of the deal.

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Following hours trading on Thursday, Tesla’s stock price increased by as much as 4.5%. Bloomberg News has stated that SpaceX is aiming for an IPO that would value the business at roughly 1.5 trillion USD.

 

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In October, Elon Musk became the first person to have a net worth of over 500 billion USD. He is thought to own around 42% of SpaceX, reported by Reuters.