Elon Musk’s SpaceX acquires Elon Musks xAI, including social media platform X

Elon Musk's AI company xAI, which includes Elon Musk's social media platform X, has just been acquired by Elon Musk's space company SpaceX.

The merging of all of Elon Musk's "X" companies has now created a single entity with a valuation of $1.25 trillion. SpaceX has reportedly been planning to hold an initial public offering (IPO) later this year. The news of SpaceX's acquisition of xAI was first reported by Bloomberg and then confirmed by SpaceX with a statement posted on its website on Monday.