Investing··10 min
Why SpaceX Bought xAI Before the $1.75T IPO
xAI priced a $20B round at $230B on January 6, 2026. Twenty-four days later its board declared fair value had doubled and merged the company into SpaceX at a combined $1.25T. Ten weeks after that, SpaceX filed confidentially for a $1.75T IPO. The merger was IPO plumbing, not corporate strategy.
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