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SpaceX Gains Approval for Tesla's xAI Stake Amid IPO Prep

3/14/2026

38 7 Full Breakdown

Summary

Story summary

SpaceX has government approval to convert Tesla's $2 billion investment in xAI into a SpaceX stake.
The merger valued SpaceX at $1 trillion and xAI at $250 billion.
Elon Musk stated that xAI is being rebuilt after co-founders departed.
SpaceX prepares for its IPO and hires two programmers from Cursor and begins job cuts due to competition from generative AI firms.

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Story summary

SpaceX has government approval to convert Tesla's $2 billion investment in xAI into a SpaceX stake.
The merger valued SpaceX at $1 trillion and xAI at $250 billion.
Elon Musk stated that xAI is being rebuilt after co-founders departed.
SpaceX prepares for its IPO and hires two programmers from Cursor and begins job cuts due to competition from generative AI firms.