SpaceX Acquires xAI for $250 Billion – AI to Analyze Crypto Markets

SpaceX has acquired xAI, the AI startup founded by Elon Musk, for $250 billion USD, according to a report by The Information ^[1]. The acquisition increases the space company's valuation to $1.25 trillion.

Musk's rationale for the merger is technical in nature: terrestrial power grids and cooling systems are insufficient for his AI ambitions. The solution is intended to be an orbital data center consisting of up to one million satellites that would utilize unlimited solar energy in space ^[1].

Parallel to the acquisition, xAI is seeking crypto specialists to teach the artificial intelligence how to analyze blockchain data like quantitative traders ^[1]. The AI is expected to learn how to exploit inefficiencies between centralized and decentralized trading venues and evaluate on-chain flows.

The combination of unlimited computing capacity in space and crypto expertise could usher in a new era of algorithmic trading. Musk, who has already significantly influenced Bitcoin and Dogecoin, now appears to be building an AI-powered trading platform ^[1].

Industry observers are speculating about possible integrations into Musk's tech ecosystem, ranging from payment functions for the X platform to transactions between AI agents – possibly involving the Solana blockchain ^[1].