Gibson Dunn along with Sullivan & Cromwell advise on SpaceX’s $250 billion acquisition of xAI, creating a $1.25 trillion combined valuation.
SpaceX has acquired artificial intelligence company xAI in a landmark transaction that values xAI at approximately $250 billion, marking the largest acquisition involving a private target in history and resulting in a combined valuation of around $1.25 trillion.
The combined company will form the most ambitious, vertically-integrated innovation engine on Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform.
Gibson Dunn advised SpaceX on the acquisition.
The corporate team included partners George Sampas, Robert Little, Chris Trester, Evan D’Amico, Hillary Holmes, and Harrison Tucker and associates Paul Lee, Owen Alderson, Stephen Huie, Jessica Egbebike, and Carli Zimelman. Partner Doug Horowitz advised on financing aspects. Partners Eric Sloan and Michael Cannon and associates Doug Bresnick and Austin Morris advised on tax aspects. Partners Krista Hanvey and Gina Hancock and associate Spencer Bankhead advised on benefits.
Partners Matthew Axelrod and Adam M. Smith and associate Chris Mullen advised on international trade aspects. Partner Lindsay Paulin and associate Sarah-Jane Lorenzo advised on government contracts. Partners Stephen Weissman, Joshua Lipton, Attila Borsos, and Alana Tinkler and associate Alexander Merritt advised on antitrust aspects.
Sullivan & Cromwell advised xAI on the transaction.
The S&C team was led by Mike Ringler and Peter Jones and included Taylor Apodaca, Alex Bourdeau, Jean Shen, Daniel Lim and Jarrett Prchal. Isaac Wheeler, Gregg Rader and Jackson Mariotti advised on tax matters. Heather Coleman and Rebecca Rabinowitz advised on executive compensation matters. Alan Fishman advised on securities matters. Renata Hesse, Juan Rodriguez, Kyle Mach and Eric J. Kadel Jr. Advised on regulatory matters. Ral Turbeville and Misha Patel advised on real estate matters. Ari Blaut and Dan Loeser advised on financing matters. Mehdi Ansari and Jay Thornton advised on intellectual property matters.
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