Elon Musk is joining his space exploration and artificial intelligence ventures into a single company before a massive planned initial public offering for the business later this year

It was last year that Musk combined Twitter with xAI, the business behind his Grok AI chatbot, valuing the social media site at $30bn. The world’s richest man then revealed plans on Monday to merge his emboldened xAI business with his rocket company, SpaceX.

PayPal has appointed former board chair Enrique Lores as chief executive, replacing Alex Chriss who had been chief executive since 2023. Lores is stepping down as CEO of HP, which is racing to search for his replacement, Semafor reports. HP board member Bruce Broussard will be interim CEO.

The billionaire is folding his successful rocket maker into a loss-making AI start-up, betting scale and control can beat rivals to a blockbuster IPO.

On Thursday, Elon Musk gave wide-ranging remarks that included new timelines for Tesla Inc. (NASDAQ:TSLA) humanoid robot and Full Self-Driving software. Musk Teases Optimus Sales Timeline At Davos Making a surprise debut at the World Economic Forum in Davos,

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.