Musk plans to merge SpaceX and Tesla in $3.5 trillion AI-Industrial deal

American billionaire Elon Musk’s plan to merge his spaceflight and satellite-internet company SpaceX with his electric vehicles maker Tesla will concentrate an enormous amount of technological and financial power, with a combined market capitalisation of $3.5 trillion.

Importantly, it will create a new integrated AI-industrial conglomerate. Both companies currently have committees of independent directors to figure it out, and no particular terms are in play. SpaceX has also disclosed that Musk, the controlling shareholder, will have to approve the merger, although he has otherwise recused himself from the committees’ negotiations.