Musk Confirms SpaceX-xAI Merger Creates $1.25 Trillion Company as Tesla Stock Drops 3.8%
Summary
Elon Musk confirms SpaceX merges with xAI to create a massive $1.25 trillion company combining artificial intelligence, rockets, and space-based computing, while Tesla stock plunges 3.8% amid analyst predictions that the electric vehicle maker could join the mega-merger within 12-18 months.
Key Points
- Elon Musk confirms SpaceX merges with xAI to create a $1.25 trillion combined company focused on AI, rockets, and space-based computing
- Wedbush analyst Dan Ives predicts a 'growing chance' Tesla will merge with the SpaceX/xAI entity within 12-18 months to form an integrated AI ecosystem
- Tesla stock falls 3.8% to $406.01 amid merger speculation, trading below its 50-day moving average and down 9.7% year-to-date