The deal combines several of his offerings, including his AI chatbot Grok, his satellite communications company Starlink, and his social media company X

Elon Musk’s SpaceX buys xAI bringing his other companies under one roof, IPO expected this year

Elon Musk Merges Space Exploration and AI Ventures

Elon Musk, the world's richest man, is taking a bold step by combining his space exploration and artificial intelligence (AI) ventures into a single company. This strategic move comes ahead of a massive planned initial public offering (IPO) for the business later this year.

SpaceX Acquires xAI

On Monday, SpaceX, Musk's rocket venture, announced the acquisition of xAI, a move that aims to help Musk dominate the rocket and AI businesses. This deal will bring together several of his offerings, including:

Grok, his AI chatbot
Starlink, his satellite communications company
X, his social media company

Combined Efforts to Speed Up Space Technology

Musk has repeatedly emphasized the need to accelerate the development of technology that enables data centers to operate in space. The combined company may make this goal more achievable.

Upcoming IPO

The merger is expected to be followed by a massive IPO later this year, which will offer investors a chance to own a stake in the newly combined company.