Feb 2 (Reuters) – Elon Musk plans to merge SpaceX with xAI ahead of its IPO, with a combined valuation of $1.25 trillion, Bloomberg News reported on Monday, citing people familiar with the matter. The combined company is expected to price its shares at about $527 each, the report said. The deal was announced in a memo, according to Bloomberg. SpaceX and xAI did not immediately respond to Reuters' requests for comment. The space firm and the AI startup were in discussions to merge ahead of a blockbuster public offering planned for later this year, Reuters had reported on Thursday, to bring Musk's rockets, Starlink satellites, the X social media platform and Grok AI chatbot under one roof. SpaceX plans to go public with a valuation likely above $1 trillion, Reuters and other media have reported. It is the world's most-valuable privately held company — at $800 billion in a recent private share sale. xAI was valued at $230 billion in November, the Wall Street Journal reported. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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