SpaceX to Invest $2 Billion in Elon Musk’s xAI

ChainCatcher reports that, according to The Wall Street Journal, Elon Musk’s SpaceX has agreed to invest $2 billion in his artificial intelligence company xAI, which accounts for nearly half of the recent equity financing for the maker of the Grok chatbot.

Musk has repeatedly leveraged his business empire to support this AI startup, which is striving to catch up with OpenAI. Earlier this year, he merged xAI with X, combining a small research lab with a social media platform to help expand the reach of its Grok chatbot. This merger brought the new company’s valuation to $113 billion.