Elon Musk’s starry mega-merger

Elon Musk pulled off one of the most audacious deals of his career this week – merging his rocket company SpaceX, with his loss-making artificial intelligence startup xAI. Fittingly for the world’s richest man, said the FT, he has created “the most valuable private company in history”.

Musk’s supporters see the $1.25 trillion mega-merger as further evidence of his “genius”: the stated aim is to launch a constellation of data centres into space to tap the unlimited, free energy of the Sun...