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Elon Musk's SpaceX buys xAI in stunning deal valued at $1.25 trillion ahead of looming IPO [Fortune]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
that combines the two privately held companies ahead of an expected IPO this year that could be one of the largest in history by market value. Recommended Video Musk, who is the CEO of both companies as well as publicly traded electric vehicle and robotics company Tesla , described the combination as one that will “form the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world's foremost real-time information and free speech platform,” he wrote in a blog post on SpaceX's website. Musk cited the potential for space-based data centers, the energy intensive computing facilities necessary to power AI services, as one of the most important benefits of the combination, even though the concept is still unproven and largely theoretical. “Global electricity demand for AI simply cannot be met with terrestrial solutions, even in the near term,” Musk wrote in the blog post. “
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