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Elon Musk announced on Monday that SpaceX has acquired his artificial intelligence startup xAI in a landmark deal that brings together his ambitions in space exploration and advanced AI technology. The acquisition combines SpaceX, the world’s most valuable private aerospace company, with xAI, the fast-growing developer behind the Grok chatbot, creating one of the most ambitious mergers in the technology sector to date.
According to people familiar with the transaction, the deal values SpaceX at approximately $1 trillion and xAI at around $250 billion. As part of the agreement, xAI shareholders will receive 0.1433 shares of SpaceX for each xAI share they own. Some xAI executives may also choose a cash option priced at $75.46 per share. The combined entity is expected to price shares at roughly $527 each, reflecting the enormous scale and expectations surrounding the merger.
This acquisition sets a new global record for the largest mergers and acquisitions deal ever, surpassing the long-standing record held by Vodafone’s $203 billion takeover of Mannesmann in 2000, according to LSEG data. SpaceX was previously valued at about $800 billion in a recent insider share sale, while xAI was valued near $230 billion late last year, underscoring the rapid rise of Musk’s AI venture.
The merger is expected to strengthen SpaceX’s data center and AI capabilities, particularly as competition intensifies with major players such as Google, Meta, Amazon-backed Anthropic, and OpenAI. By integrating xAI’s expertise in chips, data centers, and large-scale AI models, SpaceX could enhance its satellite, defense, and space exploration initiatives.
The deal also further consolidates Musk’s business empire, often referred to by investors as the “Muskonomy,” which already includes Tesla, Neuralink, the Boring Company, and social media platform X. However, the transaction may attract regulatory scrutiny due to governance concerns, valuation questions, and SpaceX’s extensive federal contracts with NASA, the U.S. Department of Defense, and intelligence agencies.
