The race for the first major AI IPO is on.
Elon Musk’s rocket company is reportedly in talks to merge SpaceX with some of his other businesses, ahead of a planned initial public offering on Wall Street later this year.
Several media outlets, including Bloomberg and Reuters, reported that SpaceX is considering a potential merger with Musk’s electric vehicle company, Tesla. Alternatively, it’s also weighing a deal with xAI, Musk’s artificial intelligence company that owns the chatbot Grok and the social media platform X.
There are already signs SpaceX is preparing for either scenario. Bloomberg reported that two legal entities established in Nevada include “merger sub” in their names and list SpaceX Chief Financial Officer Bret Johnsen as an officer.
SpaceX, xAI, and Tesla did not immediately respond to a request for comment from Gizmodo.
A merger between SpaceX and either company could make sense. Musk has previously stated that one of SpaceX’s ambitions is to place data centers in space. Still, Bloomberg reports that investors appear particularly excited about the idea of a Tesla merger.
