SpaceX Acquires xAI: A Share Swap for the Future

SpaceX is acquiring Elon Musk's AI company, xAI. Investors will receive SpaceX shares for xAI shares, or opt for cash. Some xAI executives may choose $75.46 per share instead of SpaceX stock. The move marks a significant shift in Musk’s business strategies and an intertwining of pioneering tech ventures.

SpaceX, the aerospace juggernaut founded by entrepreneur Elon Musk, is expanding its horizons into artificial intelligence with a bold acquisition.

According to a source, investors in Musk's AI entity, xAI, will be compensated with SpaceX shares – 0.1433 shares per xAI share – a strategic move aligning the operations of these pioneering tech enterprises.

Notably, xAI executives will have the option to cash out, receiving $75.46 per xAI share. SpaceX, a company known for its innovation, has not commented on the deal. The acquisition highlights an intriguing intersection in Musk's business ecosystem, potentially reshaping both AI and space exploration landscapes.

(With inputs from agencies.)