SpaceX is a pioneering aerospace manufacturer and space transportation company dedicated to revolutionizing space technology and making life multi-planetary. Through its deployment of the world's largest orbital fleet, SpaceX provides high-speed, low-latency internet to the most remote corners of the globe, leveraging its unique launch capabilities to foster a future of universal connectivity and sustained human presence beyond Earth.

SpaceX has officially acquired xAI to form the most ambitious, vertically-integrated innovation engine on and off Earth, with AI, rockets, space-based internet, and orbital AI data centers. The deal values the combined entity at $1.25 trillion, and shares of the merged company are expected to be priced at approximately $527 each. Under the terms of the acquisition, xAI investors will receive 0.1433 shares of SpaceX for every share of xAI held. Additionally, some xAI executives may opt for cash instead of SpaceX stock at a rate of $75.46 per share.

SpaceX, headquartered in Hawthorne, California, United States, was founded in 2002 by Elon Musk. In 2012, the company joined the unicorn club. "This cost-efficiency alone will enable innovative companies to forge ahead in training their AI models and processing data at unprecedented speeds and scales, accelerating breakthroughs in our understanding of physics and invention of technologies to benefit humanity," wrote Elon Musk in the post.