Elon Musk’s SpaceX has acquired his AI startup xAI in an all-stock deal that values the combined entity at $1.25 trillion, ahead of what would be the largest initial public offering in history. SpaceX pegged its own valuation at $1 trillion — a markup from the $800 billion it commanded in a December secondary stock sale — and priced xAI at $250 billion based on a recent $20 billion funding round that valued the two-year-old AI company at $230 billion.
SpaceX CFO Bret…

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