SPACEX, XAI TIE UP, FORMING $1.25 TRILLION COMPANY

Summary from the TLDR newsletter

SpaceX has acquired xAI. The combined company is valued at $1.25 trillion - the merger valued xAI at around $250 billion. The merger is structured as a share exchange, with shares in xAI being converted into 0.1433 shares of SpaceX stock. Employees will have the option to cash out and sell their xAI shares back to the company.