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Elon Musk's SpaceX buys xAI in stunning deal valued at $1.25 trillion ahead of looming IPO [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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that combines the two privately held firms into a company with an astounding $1.25 trillion reported valuation and plans for a historic IPO this year. 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. “By directly
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- Tesla introduces new Model Y variant in US priced at $41,990 [Yahoo! Finance][Yahoo! Finance]
- Musk's xAI needs SpaceX deal for the money. Data centers in space are still a dream. [CNBC][CNBC]
- Robotaxi pioneer Waymo gets $16 billion injection to accelerate its expansion plans [Yahoo! Finance Canada][Yahoo! Finance Canada]
- Musk joins his rocket and AI businesses into a single company before an expected IPO this year [Globe and Mail, The (Toronto, Canada)][Globe and Mail, The]
- Robotaxi pioneer Waymo gets $16 billion injection to accelerate its expansion plans [Globe and Mail, The (Toronto, Canada)][Globe and Mail, The]
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