SpaceX to take over Elon Musk's AI firm

Elon Musk's SpaceX is taking over his artificial intelligence (AI) start-up, as the billionaire continues to unify some of his many business interests. SpaceX confirmed the deal to acquire xAI, a smaller firm known for its Grok chatbot, posting a memo from Musk about the merger on its website. In the note, Musk said the combination would form an innovation engine putting AI, rockets, space-based internet, and media under one roof. Terms of the deal were not disclosed. However, a source familiar said it valued xAI at $125bn (£91bn) and SpaceX at $1tn, making it the most valuable private company ever.