The artificial intelligence technology developer and creator of the chat bot Grok, xAI, will merge into SpaceX and will be involved in creating a powerful computing center in space, announced Elon Musk.
American multimillionaire Elon Musk has merged his space technology company SpaceX with the firm xAI, which is focused on the development of artificial intelligence (AI) technology. This was stated in a press release issued on behalf of the founder of SpaceX on the company's website on Monday, February 2, reports DW.
According to the document, SpaceX and xAI will jointly create a powerful computing center in space, with its enormous energy needs being met by solar energy. In the long term, this will help create and fund "self-expanding bases on the Moon, an entire civilization on Mars, and ultimately expand into the Universe," Musk predicts.
Reuters: The Largest Deal in Digital Technology
The company xAI has developed the chat bot Grok, among other things. Bloomberg estimated the capitalization of SpaceX and xAI after the merger at $1.25 trillion (approximately €1.1 trillion). This is the largest deal in digital technology, emphasizes Reuters. Citing an anonymous source, it clarifies that for each share in this enterprise, xAI investors will receive 0.1433 shares of SpaceX.
Meanwhile, the merger of SpaceX and xAI still needs to be approved by regulators, given Elon Musk's dominant role in the management of the companies and the potential conflict of interest, the publication states. Since SpaceX is executing a number of contracts with the U.S. National Aeronautics and Space Administration (NASA) and the U.S. Department of Defense worth several billion dollars, a review of compliance with national security interests is necessary.
