SpaceX Eats xAI. OpenAI Eats Cash. Apple Reads Faces.
SpaceX and xAI merge ahead of $1.5T IPO. OpenAI raises $100B at $830B valuation. Apple pays $2B for silent speech tech startup Q.AI.
AI News
SpaceX Wants to Swallow xAI Before Going Public. The Math Gets Weird.
SpaceX and xAI are in merger talks ahead of a record $50 billion IPO. Behind the orbital data center pitch sits financial engineering and Pentagon contracts.
12 min read
Somewhere in Nevada, two shell companies appeared on January 21. Both list SpaceX Chief Financial Officer Bret Johnsen as an executive. Neither disclosed a purpose. Nine days later, Reuters reported that SpaceX and xAI are holding merger talks ahead of what could become the largest IPO in history.
If you dig into the corporate plumbing, it tells you more than the press releases. K2 Merger Sub Inc. and K2 Merger Sub 2 LLC, registered quietly while Elon Musk was on stage in Davos telling the world that "the lowest cost place to put AI will be in space." That claim is doing a lot of heavy lifting for a deal that, stripped of the orbital ambitions, looks more like financial engineering than aerospace engineering.
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