Musk reportedly completed SpaceX's acquisition of xAI through a two-step merger process

Jinse Finance reported, citing sources familiar with the matter, that Musk adopted a common two-step merger process in SpaceX's acquisition of xAI. This move achieves multiple objectives: it avoids the need to repay billions of dollars in debt, provides tax benefits for shareholders, and shields SpaceX from any legal liabilities of xAI. The deal, which was officially announced this Monday, has created a company valued at $1.25 trillion, with plans to go public later this year to fund Musk's vision of space-based data centers. According to sources who requested anonymity due to the undisclosed transaction details, Musk did not fully merge and integrate the two companies, but instead decided to retain xAI as an independent entity, making it a wholly owned subsidiary of SpaceX. Currently, xAI operates the social media platform X and has developed the Grok chatbot.