SpaceX completes all-stock acquisition of xAI

SpaceX announced that it had completed its acquisition of the AI company xAI in a private share swap, so no large cash outlay was needed. Reported valuations were about $1 trillion for SpaceX and about $250 billion for xAI. The deal put xAI's models, cloud business and the X social platform inside SpaceX, where they form the AI segment.

• Deal structured as a private share swap, with no large cash outlay
• Reported valuations: SpaceX about $1 trillion, xAI about $250 billion
• xAI became a wholly owned subsidiary and forms the AI segment with X