"SpaceX, the rocket firm, is buying xAI, the artificial intelligence developer, and the combination of these two Musk-controlled entities is being valued at $1.25tn (910bn). Feel the positive vibes ahead of a stock market debut due in June! The most valuable private company in history! The largest ever transaction! Or, as Musk described it, he is creating the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world's foremost real-time information and free-speech platform."
"SpaceX's minority shareholders may have a less stellar view. From their perspective, this all-share transaction must look less like an attempt to accelerate humanity's future and more like an instant bailout of loss-making xAI, conducted with minimal scrutiny of valuation or a meaningful attempt to seek their views. Remember that, while SpaceX is routinely described for shorthand purposes as owned by Musk, he is not the only person in the capsule. His stake is estimated to be 42%."
SpaceX is buying xAI and the combined entity is being valued at $1.25tn ahead of a stock market debut in June. Musk portrays the combination as a vertically integrated innovation engine including AI, rockets and direct-to-mobile communications. Minority shareholders may view the all-share transaction as an instant bailout of loss-making xAI with little scrutiny of valuation or consultation. Musk's stake in SpaceX is estimated at 42%, and outside investors include Scottish Mortgage and Edinburgh Worldwide. xAI's tie to X brings regulatory and reputational risks, including a French raid and a UK deepfake inquiry. SpaceX's appeal rests on rockets and Starlink operations.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]