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SiTime Eyes $3B Deal for Renesas Timing Unit
3 Feb
Summary
- SiTime nears acquisition of Renesas Electronics' timing unit.
- The deal could value the unit at approximately $3 billion.
- SpaceX merges with xAI in a $1.25 trillion valuation deal.
SiTime Corp. is reportedly close to acquiring Renesas Electronics Corp.'s timing unit in a deal that could be valued at approximately $3 billion. The Santa Clara-based SiTime, known for its silicon oscillators, is finalizing the purchase of the division that synchronizes signals in wireless infrastructure. This would mark SiTime's largest acquisition. Discussions are ongoing, with an agreement potentially announced as early as Thursday.
In parallel, Elon Musk's SpaceX and artificial intelligence startup xAI have announced a merger, valuing the combined entity at $1.25 trillion. SpaceX will be valued at $1 trillion, with xAI at $250 billion. This strategic move aims to create a powerful, vertically integrated innovation engine combining AI, rockets, and satellite internet capabilities. The companies aim to leverage space for cost-efficient AI computations.
The merger brings together two major privately held companies. SpaceX's Starlink network revenue is seen as a potential funding source for xAI's capital-intensive operations. Despite the merger, SpaceX still anticipates an initial public offering later this year. Meanwhile, a SpaceX Falcon 9 rocket experienced an undisclosed issue after deploying Starlink satellites, with an investigation underway.
