SpaceX Acquires xAI, Forming $1.25 Trillion Company
Elon Musk said SpaceX acquired xAI, a deal that combines his powerful rocket-and-satellite business with his artificial-intelligence startup that is facing steep competition.
Scoop: Palmer Luckey’s digital bank Erebor valued at over $4 billion
Erebor, a new digital bank co-founded by Anduril’s Palmer Luckey, has quietly raised $350 million at a $4.35 billion post-money valuation, Axios has learned from multiple sources.
Microsoft and OpenAI reach new deal valuing OpenAI at $500 billion
Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations.