Exclusive: SpaceX, xAI set share exchange ratio at 0.1433, source says

• xAI investors will receive 0.1433 shares of SpaceX for each xAI share they hold
• xAI executives have the option to receive $75.46 cash per share rather than SpaceX stock
• The arrangement enables value transfer between Musk's aerospace and artificial intelligence companies

SpaceX and xAI Establish Share Exchange Agreement

Elon Musk's artificial intelligence company xAI has set a share exchange ratio of 0.1433 with SpaceX, according to a Reuters exclusive citing a source familiar with the matter. Under this arrangement, xAI investors will receive 0.1433 shares of SpaceX for each xAI share they hold.

Key Terms:

• Exchange ratio: 0.1433 SpaceX shares per xAI share
• Cash alternative: xAI executives have the option to receive $75.46 per share in cash instead of SpaceX stock
• Date: Agreement details emerged February 2, 2026

Market Implications:

This deal represents a significant consolidation of Musk's business empire, creating closer financial ties between his space exploration and artificial intelligence ventures. The arrangement provides xAI investors with equity exposure to SpaceX, one of the most valuable private companies globally, which has historically been difficult for outside investors to access.

The cash option at $75.46 per share provides xAI executives with liquidity, suggesting a valuation benchmark for the AI company. The exchange mechanism may facilitate resource sharing and strategic alignment between the two companies, potentially accelerating development in AI applications for space technology.

Companies Involved:

• SpaceX (private aerospace manufacturer)
• xAI (Elon Musk's artificial intelligence startup)

SpaceX did not immediately respond to requests for comment. The deal structure reflects growing convergence between Musk's various technology ventures and could signal deeper integration between AI capabilities and space infrastructure development. Investors should monitor how this arrangement affects both companies' valuations and strategic directions going forward.