SpaceX, a company led by Elon Musk, has reportedly agreed to invest $2 billion in xAI, another of Musk’s ventures. This investment, confirmed by a Wall Street Journal report citing investors close to SpaceX, forms part of a larger $5 billion equity raise for xAI, previously announced by Morgan Stanley at the end of June. The equity raise is complemented by an additional $5 billion in debt.
This marks SpaceX’s inaugural investment in xAI and represents one of its most substantial investments in an external entity. SpaceX currently utilizes xAI’s Grok chatbot for customer service operations within its Starlink internet service. Plans for further collaborative partnerships between the two companies are reportedly in development.
Musk has a history of fostering inter-company support among his various enterprises, exemplified by the earlier merger of xAI with X, formerly known as Twitter. Despite recent controversies surrounding Grok, including an apology issued by xAI for the chatbot’s antisemitic comments where it described itself as “MechaHitler,” Tesla is proceeding with plans to integrate Grok into its vehicles.
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