A SpaceX Falcon Heavy rocket carrying the National Oceanic and Atmospheric Administration’s (NOAA) weather satellite Geostationary Operational Environmental Satellite U (GOES-U) lifts off from Launch Complex 39A at NASA’s Kennedy Space Center, Florida, June 25, 2024.
Miguel J. Rodriguez Carrillo | AFP | Getty Images
Elon Musk is combining rocket maker SpaceX with his artificial intelligence startup, xAI, according to reporting from Bloomberg, which cited people familiar with the matter.
The agreement was announced in a memo on Monday, Bloomberg reported, adding that the company is expected to price shares in an IPO that would value the combined entity at $1.25 trillion.
Public records with the state of Nevada indicate that the deal was completed on Feb. 2, with Space Exploration Technologies Corp. listed as the “managing member” of X.AI Holdings.
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