Lana

You'll notice Tesla's not involved.

It's far easier to merge private outfits than to fold in a publicly listed one.

But Musk's EV brainchild has the equivalent of a guest room in the home.

It's exploring collaborations with XAI and recently announced a $2 billion investment in the startup.

Musk has grand ambitions for SpaceX.

He recently asked US regulators for permission to deploy up to a million AI satellites.

And even though Musk is the world's richest man, reports say he's lining up a $1.5 trillion initial public listing for SpaceX to help fund all of that.

Merging with XAI could help that cash stretch further, letting the pair share pricey resources like talent and chips.

Tesla has been losing ground in the crowded EV market, particularly to aggressive Chinese rivals.

That's one reason why Musk has been focusing more on physical AI, like robotaxis and humanoid robots, than EVs alone.

Meanwhile, Waymo, Alphabet's autonomous driving unit, has been busy putting more of its self-driving taxis on the road, with plans to expand into the UK and more US cities later this year.

And to fund the efforts, the firm's said to be raising $16 billion at a valuation around $110 billion, more than double the figure it fetched in late 2024.

That's it for today.

I'm Lana.

I'll see you tomorrow.

Hey, I'm Lana with your Daily Brief for Saturday, January 31st.

Coming up, the U.S.

president finally appointed the next chair of the Federal Reserve.

And the pick wasn't exactly what investors expected.

And Exxon and Chevron both beat expectations, even while oil prices slid.