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Aug 18 (Reuters) - Velaura AI was valued at more than $1 billion on Tuesday after raising $110 million in a Series A funding round, with investors backing the startup's chip design technology for lowering power consumption and operating costs at AI data centers.
Elon Musk’s aerospace company SpaceX has acquired his artificial intelligence business xAI, in a $1.25tn (£910bn) merger that consolidates part of Musk’s empire as SpaceX prepares to go public later this year. The two companies announced the deal on Monday in a statement on SpaceX’s website, saying the merger would form “the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time…
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