tiprankstipranks
Advertisement
Advertisement

Tesla receives FTC clearance to convert investment in xAI into SpaceX stake

Filings with the U.S. Federal Trade Commission list Tesla (TSLA) as the acquirer of a stake in SpaceX from Elon Musk, who is CEO of both companies and the documents, dated March 11, also show Musk selling holdings to investors including Valor Equity Partners and DFJ Growth. The Tesla filings are related to its previously announced $2B investment in xAI, which is being rolled over into SpaceX after the recent merger of the AI firm with the space-launch company, people familiar with the matter told Bloomberg’s Ed Ludlow and Kiel Porter.

Meet Samuel – Your Personal Investing Prophet

Looking for exposure to SpaceX & Anthropic? Check out AGIX ETF

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1