SpaceX Acquires xAI in $1.25T Merger — Plans Orbital Data Centers and $50B IPO

Summary

SpaceX officially acquired xAI on February 2, 2026, creating a combined entity valued at $1.25 trillion — the largest merger of all time. The combined company plans a $50 billion IPO at an expected $1.5 trillion valuation, targeted for July 2026. The primary strategic rationale is building "orbital data centers" — a constellation of up to 1 million compute satellites (Project Celestia) that function as a distributed orbital supercomputer. ### Deal Structure - **Combined valuation:** $1.25 tril