Elon Musk Reveals Special Committees for Potential SpaceX-Tesla Merger
Why it matters
This merger could redefine the landscape of aerospace and electric vehicles, impacting global supply chains and technological advancements.
What happened (in 30 seconds)
- Elon Musk announced the formation of special committees to explore a merger between SpaceX and Tesla during a recent earnings call.
- Both companies are seeking synergies in AI, robotics, and satellite connectivity, with preliminary discussions underway.
- Shares of SpaceX and Tesla rose significantly following the announcement, reflecting investor optimism about potential integration benefits.
The context you actually need
- SpaceX's recent IPO valued the company at over $2 trillion, indicating strong market confidence and financial capability for a merger.
- Tesla is facing challenges with slowing vehicle sales amid increased competition, making strategic partnerships more appealing.
- Regulatory scrutiny is anticipated in multiple jurisdictions, which could complicate or delay the merger process.
What's really happening
Elon Musk's announcement on October 20, 2026, marks a pivotal moment for both SpaceX and Tesla, as the boards of each company have initiated independent special committees to evaluate a potential merger. This exploration is driven by the desire to leverage synergies in artificial intelligence, computing infrastructure, robotics, and satellite connectivity. Musk, who holds significant stakes in both companies, has stated that he will not participate in the discussions due to conflicts of interest, emphasizing the independent nature of the committees.
The backdrop to this merger exploration is notable. SpaceX recently completed its initial public offering, achieving a valuation exceeding $2 trillion, while Tesla's market cap stands at approximately $1.53 trillion. Together, their combined market capitalization is around $3.68 trillion, making this potential merger one of the largest in history. The merger could facilitate vertical integration, particularly in AI infrastructure and Starlink connectivity, which are crucial for both companies' future growth.
Analysts have pointed out that the merger could enhance Tesla's capabilities in autonomous systems and robotics, areas where it has been investing heavily. Meanwhile, SpaceX's acquisition of xAI earlier in 2026 for $1.25 trillion has positioned it as a leader in AI technology, which could be beneficial for Tesla's vehicle automation efforts. The collaboration between the two companies is not new; they have previously worked together on projects like the Terafab semiconductor manufacturing initiative in Texas.
However, the merger is not without its challenges. Regulatory experts have flagged potential antitrust reviews in the U.S. and security concerns in Europe and China, which could pose significant hurdles. The need for shareholder approval adds another layer of complexity to the process. As both companies navigate these discussions, the market has reacted positively, with SpaceX shares rising approximately 3% and Tesla shares increasing nearly 8% immediately following the announcement. This reflects investor confidence in the strategic rationale behind the merger, despite the execution risks involved.
Who feels it first (and how)
- Investors in both companies will see immediate impacts on stock valuations and potential returns.
- Employees at both SpaceX and Tesla may experience shifts in job roles and opportunities as integration progresses.
- Consumers could benefit from enhanced products and services, particularly in AI-driven technologies and electric vehicles.
- Regulators will be closely monitoring the merger for compliance with antitrust laws and security regulations.
What to watch next
- Regulatory responses: Watch for announcements from U.S., European, and Chinese regulators regarding antitrust reviews, as these will significantly influence the merger timeline.
- Shareholder sentiment: Keep an eye on shareholder reactions and votes, which will be crucial for moving forward with the merger discussions.
- Market performance: Monitor stock performance of both companies in the coming months, as it may reflect investor confidence in the merger's potential.
Special committees have been formed to explore the merger.
Regulatory scrutiny will be a significant factor in the merger process.
The timeline for finalizing the merger remains uncertain due to various approvals needed.
Frequently Asked Questions
- Why it matters?
- This merger could redefine the landscape of aerospace and electric vehicles, impacting global supply chains and technological advancements.
- What happened (in 30 seconds)?
- Elon Musk announced the formation of special committees to explore a merger between SpaceX and Tesla during a recent earnings call. Both companies are seeking synergies in AI, robotics, and satellite connectivity, with preliminary discussions underway. Shares of SpaceX and Tesla rose significantly following the announcement, reflecting investor optimism about potential integration benefits.
- What's really happening?
- Elon Musk's announcement on October 20, 2026, marks a pivotal moment for both SpaceX and Tesla, as the boards of each company have initiated independent special committees to evaluate a potential merger. This exploration is driven by the desire to leverage synergies in artificial intelligence, computing infrastructure, robotics, and satellite connectivity. Musk, who holds significant stakes in both companies, has stated that he will not participate in the discussions due to conflicts of interest
- Who feels it first (and how)?
- Investors in both companies will see immediate impacts on stock valuations and potential returns. Employees at both SpaceX and Tesla may experience shifts in job roles and opportunities as integration progresses. Consumers could benefit from enhanced products and services, particularly in AI-driven technologies and electric vehicles. Regulators will be closely monitoring the merger for compliance with antitrust laws and security regulations.
- What to watch next?
- Regulatory responses: Watch for announcements from U.S., European, and Chinese regulators regarding antitrust reviews, as these will significantly influence the merger timeline. Shareholder sentiment: Keep an eye on shareholder reactions and votes, which will be crucial for moving forward with the merger discussions. Market performance: Monitor stock performance of both companies in the coming months, as it may reflect investor confidence in the merger's potential.
U.S. business news, corporate developments, and economy.
"The Wall Street Journal is respected for deep financial and economic reporting with a center-right editorial perspective."
— A47 Editor
SpaceX and Tesla Are Already Joined at the Hip. What a Formal Merger Would Mean.
Elon Musk has announced the formation of special committees within Tesla and SpaceX to explore the potential for a merger between the two companies, which have long been intertwined in resources and ambitions. This development follows ongoing innovat...
California news and regional developments.
"The Los Angeles Times is a major West Coast newspaper offering in-depth reporting with a liberal editorial tone and strong regional focus."
— A47 Editor
Behind Elon Musk's plans for a mega-merger of SpaceX and Tesla
Elon Musk has confirmed that SpaceX and Tesla are exploring a potential merger, which could become the largest corporate merger in history. This announcement follows ongoing speculation about the two companies' collaboration and strategic alignment i...
Corporate finance news, M&A, deals, and executive interviews.
"Finance Monthly serves a professional readership with corporate finance coverage."
— A47 Editor
SpaceX–Tesla Merger Faces New Scrutiny Over Musk's Public Support
Elon Musk has confirmed that he is considering a merger between Tesla and SpaceX, with special committees formed within both companies to explore this potential mega-merger. This announcement comes amid ongoing innovations and developments within bot...
Curated tech headlines including AI stories.
"Influential aggregator surfacing the day’s top tech/AI links."
— A47 Editor
Sources: advisers within Elon Musk's empire are pushing to announce a SpaceX-Tesla merger by H1 2027 so it can close while President Trump remains in power (Bloomberg)
Advisers within Elon Musk's companies are advocating for the announcement of a merger between SpaceX and Tesla by the first half of 2027, aiming to finalize the deal while President Trump is still in office. This merger could potentially be valued at...
Tech business coverage, major deals, product launches, and Silicon Valley trends.
"WSJ’s tech section offers authoritative reporting on the intersection of technology and business, including exclusive industry analysis."
— A47 Editor
SpaceX and Tesla Are Joined at the Hip. A Merger Would Make It Formal.
Elon Musk has announced that SpaceX and Tesla are exploring a potential merger, a significant development that formalizes the longstanding integration of resources and ambitions between the two companies. This announcement was made during SpaceX's ea...
U.S. business news, corporate developments, and economy.
"The Wall Street Journal is respected for deep financial and economic reporting with a center-right editorial perspective."
— A47 Editor
Musk Says Tesla Aims to Begin Humanoid Robot Sales Next Year
Elon Musk announced that Tesla aims to begin sales of its humanoid robot next year, emphasizing the company's commitment to advancing artificial intelligence and robotics. During a recent earnings call, discussions regarding a potential merger with S...
Research, news, and analysis on blockchain startups, DeFi, and regulations.
"Crypto Briefing provides research, news, and analysis on blockchain startups, DeFi, and crypto regulations with investor-focused coverage."
— A47 Editor
Tesla, SpaceX form committees to explore potential merger, Musk wealth boost
Tesla and SpaceX have formed committees to explore a potential merger, a strategic move that could significantly alter the dynamics of both the automotive and aerospace sectors. This initiative reflects a growing alignment between two of Elon Musk's ...
Reports on climate change, environmental science, sustainability, and nature.
"BBC News is widely regarded as a reputable international news organization, known for its impartial tone and public service mandate."
— A47 Editor
Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
Elon Musk has announced plans for a potential mega-merger between SpaceX and Tesla, stating that there is significant potential for synergy between the two companies. This merger could represent the largest in history, aimed at enhancing innovation a...
Corporate news, economic trends, and markets with UK and global scope.
"BBC News is widely regarded as reputable and impartial, with a public service mandate."
— A47 Editor
Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
Elon Musk has announced plans for a potential mega-merger between SpaceX and Tesla, stating that there is significant potential for synergy between the two companies. This merger could represent the largest in history, aimed at enhancing innovation a...
International coverage of politics, culture, and current affairs.
"BBC News is widely regarded as a reputable international news organization, known for its impartial tone and public service mandate."
— A47 Editor
Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
Elon Musk has announced plans for a potential mega-merger between SpaceX and Tesla, stating that there is significant potential for synergy between the two companies. This merger could represent the largest in history, aimed at enhancing innovation a...
UK and international business news, economics, and corporate coverage.
"The Guardian’s business section covers finance and markets with a progressive editorial tone."
— A47 Editor
Tesla beats earnings projections after Musk floats SpaceX merger plan
Tesla reported better-than-expected earnings for the third quarter, while CEO Elon Musk hinted at a potential merger with SpaceX, stating that there is 'a lot of merit' to the idea, although he provided no further details during the earnings call.
International coverage from The Guardian's global desks.
"The Guardian is known for its progressive editorial stance and in-depth analysis."
— A47 Editor
Tesla beats earnings projections after Musk floats SpaceX merger plan
Tesla reported better-than-expected earnings for the third quarter, while CEO Elon Musk hinted at a potential merger with SpaceX, stating that there is 'a lot of merit' to the idea, although he provided no further details during the earnings call.
Tech culture, product news, and critical takes on the tech industry's social impact.
"The Guardian's tech coverage blends mainstream news, critical analysis, and cultural commentary on emerging technologies and digital trends."
— A47 Editor
Tesla beats earnings projections after Musk floats SpaceX merger plan
Tesla's third-quarter earnings call revealed that CEO Elon Musk is considering a merger with SpaceX, stating there is 'a lot of merit' to the idea, although he provided no further details. The proposal would require approval from 50% of Tesla's share...
Reports on science policy, discoveries, and public debate in the scientific realm.
"The Guardian’s science section is known for thoughtful and critical reporting on global research, ethics, and public understanding of science."
— A47 Editor
Tesla beats earnings projections after Musk floats SpaceX merger plan
Tesla's third-quarter earnings call revealed that CEO Elon Musk is considering a merger with SpaceX, stating there is 'a lot of merit' to the idea, although he provided no further details. The proposal would require approval from 50% of Tesla's share...
Markets, economy, and company analysis from NYT’s business desk.
"The New York Times is a globally recognized newspaper offering authoritative reporting with a center-left editorial stance."
— A47 Editor
Elon Musk Says SpaceX and Tesla Are Exploring a Merger
Elon Musk has announced that SpaceX and Tesla are exploring a potential merger, which could consolidate his holdings in rockets, cars, and artificial intelligence into a company valued at over $3 trillion. This development follows SpaceX's successful...
Tech industry coverage with AI angles.
"Mainstream tech news intersecting with AI policy and culture."
— A47 Editor
Elon Musk Says SpaceX and Tesla Are Exploring a Merger
Elon Musk has announced that SpaceX and Tesla are exploring a potential merger, which could consolidate his holdings in rockets, cars, and artificial intelligence into a company valued at over $3 trillion. This development follows SpaceX's successful...
Tech policy, trends, and innovation news.
"The New York Times is a globally recognized newspaper offering authoritative reporting with a center-left editorial stance."
— A47 Editor
Elon Musk Says SpaceX and Tesla Are Exploring a Merger
Elon Musk has announced that SpaceX and Tesla are exploring a potential merger, which could consolidate his holdings in rockets, cars, and artificial intelligence into a company valued at over $3 trillion. This development follows SpaceX's successful...
Stock market news, investing ideas, and trading analysis.
"TheStreet provides market news and retail-investor-focused analysis."
— A47 Editor
SpaceX shares soar on possible tie-up with Tesla
SpaceX shares have surged following news of a potential merger with Tesla, significantly boosting Elon Musk's combined holdings in both companies to over $1.3 trillion. This rise reflects the strong market performance of both firms amid ongoing innov...
Tech business coverage, major deals, product launches, and Silicon Valley trends.
"WSJ’s tech section offers authoritative reporting on the intersection of technology and business, including exclusive industry analysis."
— A47 Editor
What to Know About the SpaceX-Tesla Merger Talks
Discussions are underway regarding a potential merger between SpaceX and Tesla, as announced by Elon Musk during SpaceX's recent earnings call. Special committees have been formed to explore this significant corporate move, which could reshape the la...
U.S. business news, corporate developments, and economy.
"The Wall Street Journal is respected for deep financial and economic reporting with a center-right editorial perspective."
— A47 Editor
What to Know About the SpaceX-Tesla Merger Talks
Discussions are underway regarding a potential merger between SpaceX and Tesla, as confirmed by CEO Elon Musk. Special committees have been established within both companies to explore this significant corporate strategy aimed at enhancing collaborat...
Tech news, hardware, and AI tools coverage.
"PC/tech site increasingly covering AI hardware and apps."
— A47 Editor
Elon Musk confirms Tesla and SpaceX merger talks
Elon Musk has confirmed that Tesla and SpaceX are in discussions regarding a potential merger, as announced during SpaceX's third-quarter earnings call on October 20. Special committees composed of independent directors have been established to evalu...
Editor-curated FT homepage stories spanning markets, business, world, and opinion.
"The Financial Times is a globally respected business publication with a centrist/center-left tone and strong markets focus."
— A47 Editor
Rockets, robots and risk: Musk’s $3.6tn gamble to merge Tesla and SpaceX
Elon Musk is considering a merger between Tesla and SpaceX, a move that could consolidate his interests in automotive and aerospace sectors into a single entity valued at approximately $3.6 trillion. Special committees have been established within bo...
Corporate finance news, M&A, deals, and executive interviews.
"Finance Monthly serves a professional readership with corporate finance coverage."
— A47 Editor
Tesla–SpaceX Merger Talks Raise Questions Over Valuation and Shareholder Approval
Elon Musk has initiated discussions regarding a potential merger between Tesla and SpaceX, which could create a technology conglomerate valued at approximately $3.5 trillion. Both companies have formed special committees to evaluate the feasibility o...
Global business, markets, and technology policy/industry coverage.
"France 24 provides balanced international coverage with a European perspective."
— A47 Editor
Musk talks up potential merger of SpaceX and Tesla
Elon Musk has announced the potential merger of SpaceX and Tesla, following SpaceX's impressive quarterly earnings report. Special committees have been formed within both companies to explore this merger, which Musk believes could enhance collaborati...
Covers blockchain, cryptocurrency news, project analysis, and market insights.
"CoinDesk is a well-established cryptocurrency and blockchain news provider, offering comprehensive insights, market data, and industry research."
— A47 Editor
SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
SpaceX and Tesla are currently exploring a potential merger, with independent committees assessing the implications of uniting their operations, which could involve over 30,000 bitcoin holdings. This development comes as SpaceX reports strong earning...
Corporate news, economic trends, and markets with UK and global scope.
"BBC News is widely regarded as reputable and impartial, with a public service mandate."
— A47 Editor
Elon Musk confirms he is considering merging Tesla and SpaceX
Elon Musk has confirmed that he is considering a merger between Tesla and SpaceX, with special committees established within both companies to explore this potential mega-merger. This announcement comes amid ongoing innovations and developments withi...
International coverage of politics, culture, and current affairs.
"BBC News is widely regarded as a reputable international news organization, known for its impartial tone and public service mandate."
— A47 Editor
Elon Musk confirms he is considering merging Tesla and SpaceX
Elon Musk has confirmed that he is considering a merger between Tesla and SpaceX, with special committees established within both companies to explore this potential mega-merger. This announcement comes amid ongoing innovations and developments withi...
Reports on climate change, environmental science, sustainability, and nature.
"BBC News is widely regarded as a reputable international news organization, known for its impartial tone and public service mandate."
— A47 Editor
Elon Musk confirms he is considering merging Tesla and SpaceX
Elon Musk has confirmed that he is considering a merger between Tesla and SpaceX, with special committees established within both companies to explore this potential mega-merger. This announcement comes amid ongoing innovations and developments withi...
Business, markets, economy, and corporate news with strong UAE and regional relevance.
"Emirates 24|7 business coverage tends to center UAE markets, property, regulation, and regional economic developments."
— A47 Editor
Musk says SpaceX-Tesla merger is 'a good idea' as companies form deal committees
Elon Musk announced that a merger between SpaceX and Tesla is being considered, stating it would be 'a good idea' as both companies have formed special committees to explore the potential union. This news led to an 8% increase in shares for both comp...
Global news coverage with extensive reporting on Middle Eastern conflicts and geopolitics.
"Al Jazeera is a Qatar-based broadcaster known for wide regional coverage and alternative perspectives."
— A47 Editor
Musk confirms SpaceX and Tesla exploring merger
Elon Musk has confirmed that SpaceX and Tesla are exploring a potential merger, which could create a mega company valued at approximately $3.5 trillion. This announcement comes amid significant developments in both companies, including SpaceX's recen...
Covers blockchain, cryptocurrency news, project analysis, and market insights.
"Cointelegraph is a leading crypto-focused media outlet known for timely news, analysis, and educational content related to blockchain and digital assets."
— A47 Editor
Musk says SpaceX-Tesla merger a ‘good idea’ as AI revenue jumps ninefold
Elon Musk has suggested that a merger between SpaceX and Tesla would be a beneficial move, coinciding with a significant ninefold increase in AI revenue for the companies. This merger would align Tesla with SpaceXAI, the developer of Grok, and the so...
UK and international business news, economics, and corporate coverage.
"The Guardian’s business section covers finance and markets with a progressive editorial tone."
— A47 Editor
Tesla and SpaceX explore merger as Elon Musk gives backing
Elon Musk announced that special committees have been formed within Tesla and SpaceX to explore the potential for a merger between the two companies. This development follows SpaceX's second public earnings report, where Musk expressed his support fo...
Reports on science policy, discoveries, and public debate in the scientific realm.
"The Guardian’s science section is known for thoughtful and critical reporting on global research, ethics, and public understanding of science."
— A47 Editor
Tesla and SpaceX explore merger as Elon Musk gives backing
Elon Musk announced that special committees have been formed within Tesla and SpaceX to explore the potential for a merger between the two companies. This development follows SpaceX's second public earnings report, where Musk expressed his support fo...
Technology business news, market impacts, and innovation trends.
"Bloomberg is a premier financial and tech news provider, respected for its in-depth reporting and analytical rigor."
— A47 Editor
Musk Teases SpaceX-Tesla Merger in Earnings Call
Elon Musk announced during SpaceX's earnings call that special committees have been formed to explore a potential merger between SpaceX and Tesla, marking a significant step towards what could be the largest corporate merger in history.
Technology business and AI-related headlines.
"Data-driven tech newsroom with global scope."
— A47 Editor
Musk Teases SpaceX-Tesla Merger in Earnings Call
Elon Musk announced during SpaceX's earnings call that special committees have been formed to explore a potential merger between SpaceX and Tesla, marking a significant step towards what could be the largest corporate merger in history.
Startup news with frequent AI coverage.
"Covers launches, funding, and product updates in AI."
— A47 Editor
SpaceX and Tesla boards form special committees to review merger
SpaceX and Tesla have established special committees to explore a potential merger, as announced by Elon Musk during a recent earnings call. Musk clarified that he is not part of these committees, which consist of independent directors tasked with re...
National headlines across the United States including breaking stories and societal issues.
"NBC News is a mainstream media outlet known for comprehensive national and international news coverage with a centrist to slightly left-leaning editorial tone."
— A47 Editor
Elon Musk says SpaceX and Tesla have formed special committees to discuss merger idea
Elon Musk announced that SpaceX and Tesla have established special committees to explore the possibility of a merger, although he clarified that he is not part of these discussions due to conflicts of interest under securities regulations.
Corporate leadership, finance, technology, and market trends.
"Fortune covers financial trends, leadership, and innovation with a pragmatic editorial approach."
— A47 Editor
Elon Musk says Tesla and SpaceX are weighing a $3.5 trillion merger—without him in the room
Elon Musk has revealed that Tesla and SpaceX are considering a potential merger valued at $3.5 trillion, although he is not directly involved in the discussions. This announcement highlights the ongoing strategic evaluations within both companies reg...
Tech business coverage, major deals, product launches, and Silicon Valley trends.
"WSJ’s tech section offers authoritative reporting on the intersection of technology and business, including exclusive industry analysis."
— A47 Editor
Tesla and SpaceX Formed Committees to Discuss Potential Merger, Elon Musk Says
Elon Musk announced that Tesla and SpaceX have established special committees to explore a potential merger, indicating a significant step towards what could be one of the largest corporate mergers in history. This announcement was made during SpaceX...
U.S. business news, corporate developments, and economy.
"The Wall Street Journal is respected for deep financial and economic reporting with a center-right editorial perspective."
— A47 Editor
Tesla and SpaceX Formed Committees to Discuss Potential Merger, Elon Musk Says
Elon Musk announced that special committees have been formed within Tesla and SpaceX to explore the potential for a merger between the two companies, citing significant merit in the idea. This development comes as both companies continue to innovate ...
Business and tech news excluding paywalled content.
"High-volume business/tech outlet with frequent AI coverage."
— A47 Editor
Tesla and SpaceX have set up committees to explore a merger
Tesla and SpaceX have established special committees to explore a potential merger, as announced by CEO Elon Musk during SpaceX's recent earnings call. Musk clarified that he would not participate in the discussions due to his significant ownership s...
Research, news, and analysis on blockchain startups, DeFi, and regulations.
"Crypto Briefing provides research, news, and analysis on blockchain startups, DeFi, and crypto regulations with investor-focused coverage."
— A47 Editor
Tesla and SpaceX form committees to explore potential merger
Tesla and SpaceX have established committees to explore a potential merger, a move that could significantly alter the dynamics of both the aerospace and automotive sectors. This development indicates a strategic alignment between two of the most inno...
Editor-curated FT homepage stories spanning markets, business, world, and opinion.
"The Financial Times is a globally respected business publication with a centrist/center-left tone and strong markets focus."
— A47 Editor
SpaceX and Tesla boards explore potential merger
Elon Musk has indicated that the boards of SpaceX and Tesla are exploring the possibility of a merger, which he believes could be beneficial as advancements in artificial intelligence approach a critical juncture. This potential merger aims to enhanc...
Curated tech headlines including AI stories.
"Influential aggregator surfacing the day’s top tech/AI links."
— A47 Editor
Elon Musk says Tesla and SpaceX have formed special committees to discuss a possible merger and calls the possibility of a Tesla-SpaceX merger a "good idea" (Andrew J. Hawkins/The Verge)
Elon Musk announced that Tesla and SpaceX have formed special committees to explore a potential merger, describing the idea as a "good idea" during a recent earnings call. This marks a significant step towards what could be one of the largest corpora...
Consumer tech and culture with frequent AI coverage.
"Influential tech outlet covering AI products and policy."
— A47 Editor
Tesla and SpaceX are discussing a possible merger, Musk says
Elon Musk announced during SpaceX's third quarter earnings call that Tesla and SpaceX have established special committees to explore a potential merger, responding to shareholder requests. The committees will include independent directors, although t...
Tech news, reviews, and analysis of consumer electronics, science, art, and culture.
"The Verge is a technology-focused media outlet known for in-depth reporting, product reviews, and coverage of the intersection between technology and culture."
— A47 Editor
Tesla and SpaceX are discussing a possible merger, Musk says
Elon Musk announced during SpaceX's third quarter earnings call that Tesla and SpaceX have established special committees to explore a potential merger, responding to shareholder requests. The committees will include independent directors, although t...
Markets, economy, and company analysis from NYT’s business desk.
"The New York Times is a globally recognized newspaper offering authoritative reporting with a center-left editorial stance."
— A47 Editor
Investors in Anticipation Over Musk’s Next Big SpaceX Deal
Investors are closely monitoring SpaceX as Elon Musk prepares for the company's upcoming quarterly earnings report, with speculation about a potential merger with Tesla and the implications of SpaceX's spending on artificial intelligence.