Musk's SpaceX acquires xAI

Group 1 - SpaceX has acquired Elon Musk's AI startup xAI, aiming to unify Musk's AI and space ambitions [1][2] - The merger represents a high-profit pairing in Silicon Valley, combining a space contractor with an evolving AI developer [1] - The deal is part of Musk's strategy to integrate AI efforts with aerospace and satellite internet operations, potentially enhancing AI development and supporting future space-based data centers [2] Group 2 - Discussions for the merger were ongoing ahead of a significant public offering planned for later this year [3] - The combined entity is expected to price shares at approximately $527 each, with a projected valuation of $1.25 trillion [3]