Announcement of the Creation of the Most Expensive Private Company in the World 0 14

Elon Musk's space company SpaceX has announced the acquisition of xAI — his own startup working in the field of artificial intelligence, reports CNN. As a result of the merger of two of the largest companies with a limited number of shareholders, the most expensive private company in the world is being created.

The channel suggests viewing the merger as evidence that xAI needs funds to compete in the rapidly growing field of AI, as well as an indicator of the importance of this technology for the future of space exploration.

As previously noted, Musk's ambitions are related to placing data centers in space to perform complex computations. "The only logical solution is to move these resource-intensive developments to a place with vast energy resources and space," emphasizes the billionaire.

SpaceX, which was planning to go public in early summer, reported a profit of $8 billion last year on revenues of $15–16 billion. It was expected to attract up to $50 billion with the company's valuation at about one and a half trillion.