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- Elon’s SpaceX ($1T) combines with xAI ($250B) at $1.25T combined valuation
Elon’s SpaceX ($1T) combines with xAI ($250B) at $1.25T combined valuation
Bay Area Times
February 03, 2026
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Top stories today:
- Elon’s SpaceX ($1T) combines with xAI at $1.25T combined valuation
- Waymo raises $16B at $126B valuation to expand robotaxi business
- OpenAI debuts Codex app on Mac OS to manage multiple AI agents
- Insilico Medicine reveals AI obesity drug showing 31% weight loss
- Palantir Q4 revenue +70% YoY to $1.4B, net income +695%
- Sam Altman dismisses report OpenAI is weighing NVIDIA alternatives
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Elon’s SpaceX ($1T) combines with xAI ($250B) at $1.25T combined valuation
The transaction is reportedly all-stock, with no cash involved.
A 2026 SpaceX IPO remains likely.
Both companies will maintain their separate branding, xAI said in a memo to employees.
2. Waymo raises $16B at $126B post-money valuation to expand robotaxi business
Sequoia Capital, DST Global, and Dragoneer Investment led the round.
Alphabet, along with a16z, Mubadala Capital, Silver Lake, and Bessemer Venture Partners, also participated.
“Our focus is now on global scale,” Waymo CEOs Tekedra Mawakana and Dmitri Dolgov said.
400K+ paid rides per week.
The company plans to hire globally and expand its vehicle fleet.
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