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According to Bloomberg, Elon Musk plans to merge SpaceX with xAI, and the transaction has been confirmed in a statement on the SpaceX official website. The acquisition values the combined company at approximately $1.25 trillion and is still expected to proceed with an IPO this year. SpaceX's previous IPO plans could raise up to about $50 billion. Sources familiar with the matter say that the post-merger company is expected to be priced at $526.59 per share.