SpaceX, the rocket and satellite maker led by Elon Musk, said on Monday it had acquired xAI, the artificial intelligence company controlled by Mr. Musk, a sweeping move to consolidate his business emp...

Elon Musk is joining his space exploration and artificial intelligence ventures into a single company before a massive planned initial public offering for the business later this year.

The deal was announced in a statement on SpaceX’s website signed by Musk and confirming an earlier Bloomberg News report.