00:00There have been a lot of conversation about somehow his empire combining forces, whether it's Tesla and SpaceX or XAI and SpaceX.
00:06It looks like the latter is the more likely at the moment.
00:09That's the idea that's gained traction in late last week and over the weekend, that it looks like these two private companies, SpaceX and XAI, which also owns X, would come together.
00:19It's possible in the future Tesla could be involved.
00:22There's a lot of theories that one day there's just going to be one huge Elon Musk conglomerate.
00:26But for now, at least, it looks like this is the plan and that SpaceX would still go public later this year.
00:31I can see that the benefit for XAI is that it needs a ton of money.
00:36What is, in theory, the benefit to investors of both these companies by a combination?
00:41A lot of this is futuristic.
00:43If investors and SpaceX want to see these data centers in space one day, which there's been some filings that could indicate maybe that's something they're working on, this is a way to bring that together.
00:54But definitely, you know, is it a bailout of XAI, you know, compared to SpaceX?
01:00Hard to say.
01:01We don't know any details on what is the structure right now, what shares will be transferred or exchanged or swapped for each other.
01:08So those details still need to come out to see, you know, how shareholders make out.
01:13And what sort of approvals do they need?
01:15Because we understand a lot of this has got investors' support.
01:17But do they need to?
01:19Can it just be done because Elon Musk thinks it's the right thing to do?
01:22It's hard to say, but last year when X and XAI merged, it kind of just happened in an X post.
01:29And that's reality.
01:31A lot of this, especially when there's private companies, the M&A is very much behind the scenes.
01:36Maybe an investment bank gets brought on for a fairness opinion or there's certainly law firms.
01:40But it's hard to say.
01:43It's not like a public shareholder deal or, you know, there might be committees, but a lot of it's done behind the scenes.
01:51And if Tesla had been part of this merger, then you might see more public information or independent board shareholder votes and whatnot.
01:59But this is all going to be happening kind of under the radar.
02:04Briefly, who would run it?
02:05That's a great question.
02:08You know, XAI has brought on Anthony Armstrong, a former investment banker and who worked in the government.
02:13You know, SpaceX has leadership in our reporting, you know, doesn't have the answers.
02:17But there's certainly a few people in Elon Musk's sphere that could, you know, potentially run this.
02:23Apparently, all his executives do everything at all the companies.
02:25So maybe it's just everyone.
02:27So maybe it's just everyone.
02:27So maybe it's just everyone.
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