Elon Musk's SpaceX to merge with xAI

What they're saying: "SpaceX has acquired xAI to form the most ambitious, vertically-integrated innovation engine on (and off) Earth," Musk wrote.

• "This marks not just the next chapter, but the next book in SpaceX and xAI's mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!"

Zoom in: The deal values the combined company at roughly $1.2 trillion, stepping SpaceX up from about $800 billion and putting xAI north of $200 billion, per a source familiar with the transaction.

• The percentage uplift in valuation is larger for SpaceX, while xAI shareholders effectively get a lifeline through the deal.

Flashback: Musk is no stranger to merging his companies, having put X (the former Twitter) and xAI together last year.

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