Elon Musk, AI
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Elon Musk just became the first person ever worth $800 billion or more after his rocket maker SpaceX acquired his artificial intelligence and social media company xAI. Forbes estimates that the deal, which values the combined company at $1.25 trillion, boosted Musk’s fortune by $84 billion, to a record $852 billion.
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Elon Musk wants to turn one of humanity’s biggest problems into the fuel for its boldest journey. Instead of treating carbon dioxide as waste, he is pushing SpaceX to capture CO2 and convert it into methane and oxygen,
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Musk's memo announcing SpaceX and xAI's merger is full of space jargon. Here's your cheat sheet to bring the wonky language back down to Earth.
The details: The deal valued SpaceX at about $1 trillion, up from the roughly $800 billion cited in December; xAI was valued at $250 billion, slightly up from its last fund-raising round. (The move required SpaceX to issue about $250 billion of new stock, drastically diluting the stakes of existing investors.)
Elon Musk’s rocket-building company SpaceX said on Monday it had acquired his artificial intelligence and social media venture xAI, a move that consolidates the entrepreneur’s two largest private businesses into a massive new conglomerate to sit alongside his publicly listed electric vehicle maker Tesla, from which Musk derives much of his wealth.
SpaceX is scheduled to launch a Falcon 9 rocket from California on Thursday, Jan. 29. Here's how to watch a livestream.