SpaceX, founded by Musk, merges with Xai with an estimated valuation of $1.25 trillion.

Elon Musk's space exploration technology company has acquired artificial intelligence company xAI. This transaction carries the billionaire's ambition to dominate the fields of artificial intelligence and space exploration, as costs continue to rise. The deal, signed by Musk, was officially announced in a statement on the space exploration technology company's website, confirming earlier reports by the media. Sources familiar with the matter revealed that the transaction has increased the valuation of the space exploration technology company to $1 trillion, and xAI's valuation to $250 billion. Some sources had previously stated that the company had informed employees in an internal memo on Monday that the overall valuation of the merged entity is $1.25 trillion.