Tesla is allowed to convert its investment in xAI into a stake in SpaceX.

Tesla has been approved by the government to convert its investment in xAI, a company under Elon Musk, into a small amount of equity in SpaceX, officially establishing the financial relationship between these two core companies owned by the billionaire before the rocket manufacturer's planned initial public offering. Documents submitted to the Federal Trade Commission show that Tesla acquired some shares of SpaceX from Musk, who serves as the CEO of both companies. The document dated March 11 also reveals that Musk sold some shares to investors including Valor Equity Partners and DFJ Growth. Although such documents require disclosure of transactions worth over $133.9 million, specific details such as the percentage of ownership were not disclosed.