SpaceX has committed $2 billion to xAI as part of a $5 billion equity round, deepening the ties between tech billionaire Elon Musk's ventures as his artificial intelligence startup races to compete with rival OpenAI,

The startup is leaning on Musk’s business empire to play catch-up in the AI race.

Elon Musk’s xAI is preparing to raise more money from investors in a deal that could value the artificial intelligence company as high as $200bn — 10 times its value early last year, according to people close to the talks.