Elon Musk used a common two-step merger process in SpaceX's purchase of xAI (X.AI) that had the dual benefit of avoiding the repayment of billions of dollars in debt while giving shareholders a tax advantage,

Elon Musk announced this week that SpaceX will acquire xAI with hopes to build datacenters in space.

By Echo Wang and Joey Roulette Feb 2 (Reuters) - Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk's AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot.

Elon Musk, the world's richest man, just combined his companies SpaceX and xAI, creating the most valuable privately-owned company in the world.

Elon Musk’s SpaceX acquired xAI in a record-setting transaction aimed at expanding AI computing capacity, including potential space-based data centers powered by solar energy.