SpaceX announced the acquisition of Kresar, an AI-powered code-editing startup popular in Israel's high-tech sector, for a reported $60 billion, according to Israeli media. The deal comes just hours after SpaceX rang the opening bell on the Nasdaq in its historic IPO.
Israeli media reported Tuesday that SpaceX, led by Elon Musk, agreed to acquire Kresar — an Israeli-founded startup that developed an AI-powered code-writing and editing tool popular among tech firms, including in Israel — for $60 billion. The acquisition was announced shortly after SpaceX began trading on the Nasdaq, following its historic IPO last Friday. The deal's scale — $60 billion for a single startup — is one of the largest ever in the Israeli tech sector and in the global AI industry. As The Zioneer reported, SpaceX shares closed the first trading day up 19%, valuing the company at roughly $2.1 trillion. Musk's personal wealth had crossed the $1 trillion threshold after the IPO. The Kresar acquisition positions SpaceX even more deeply in the AI-development space, alongside its core aerospace and satellite operations. Further details on regulatory approvals, financing, and how the deal was structured have not yet been reported.
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