MADRID: A luxury cruise ship has rescued dozens of migrants who were trying to reach the Spanish Canary Islands in a fishing boat that had stalled in rough seas killing five people, Spanish authorities and the cruise operator said on Thursday.
The archipelago has become the main point of entry to Spain for illegal migrants from Africa in recent years, and the route is also the deadliest. Migration rights group Walking Borders said last week that nearly 5,000 migrants died at sea on that route in the first five months of 2024.
Bulk carrier Philipp Oldendorff sighted the boat adrift 440 nautical miles (815 km) south of the island of Tenerife on Wednesday and provided first assistance to the migrants, while the Insignia cruise ship was diverted to the area to pick up the survivors, the Coast Guard said in a statement.
The Insignia, which is owned by Miami-based Oceania Cruises, also managed to recover three bodies from the boat, but bad weather prevented the recovery of another two bodies so the ship left a locating device to facilitate the search.
The small luxury cruise ship with a 670-passenger capacity is undertaking a 180— day trip around the world that started in January. It was expected to reach Tenerife at 7 a.m. (0600 GMT) on Friday.
“Safety of life at sea is of paramount importance for all seafarers,” said a spokesperson for Oceania Cruises, which is owned by Norwegian Cruise Line Holdings.
“We can confirm that the Insignia rescued 68 people from a vessel in distress between Cape Verde and Tenerife, brought them onboard for medical assistance and provided food, drinks, clothing and a safe place to rest,” the spokesperson added.
A Spanish coast guard vessel was en route from the Canary Islands on Thursday to meet the Insignia and then locate the shipwreck.
Cruise ship rescues 68 migrants heading for Spain’s Canaries, five dead
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Cruise ship rescues 68 migrants heading for Spain’s Canaries, five dead
- Bulk carrier Philipp Oldendorff sighted the boat adrift 440 nautical miles (815 km) south of the island of Tenerife
- Insignia cruise ship was diverted to the area to pick up the survivors, the Coast Guard said
SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions
- The deal is the biggest M&A transaction of all time
- Deal values xAI at $250 billion, SpaceX at $1 trillion
Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot. The deal, first reported by Reuters last week, represents one of the most ambitious tie-ups in the technology sector yet, combining a space-and-defense contractor with a fast-growing AI developer whose costs are largely driven by chips, data centers and energy. It could also bolster SpaceX’s data-center ambitions as Musk competes with rivals like Alphabet’s Google, Meta, Amazon-backed Anthropic and OpenAI in the AI sector.
The transaction values SpaceX at $1 trillion, and xAI at $250 billion, according to a person familiar with the matter.
“This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!” Musk said. The purchase of xAI sets a new record for the world’s largest M&A deal, a distinction held for more than 25 years when Vodafone bought Germany’s Mannesmann in a hostile takeover valued at $203 billion in 2000, according to data compiled by LSEG. The combined company of SpaceX and xAI is expected to price shares at about $527 each, another person familiar with the matter said. SpaceX was already the world’s most valuable privately held company, last valued at $800 billion in a recent insider share sale. XAI was last valued at $230 billion in November, according to the Wall Street Journal. The merger comes as the space company plans a blockbuster public offering this year that could value it at over $1.5 trillion, two people familiar with the matter said.
SpaceX, xAI and Musk did not immediately respond to requests for comment.
The deal further consolidates Musk’s far-flung business empire and fortunes into a tighter, mutually reinforcing ecosystem – what some investors and analysts informally call the “Muskonomy” – which already includes Tesla, brain-chip maker Neuralink and tunnel firm the Boring Company. The world’s richest man has a history of merging his ventures together. Musk folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform’s data and distribution. In 2016, he used Tesla’s stock to buy his solar-energy company SolarCity.
The agreement could draw scrutiny from regulators and investors over governance, valuation and conflicts of interest given Musk’s overlapping leadership roles across multiple firms, as well as the potential movement of engineers, proprietary technology and contracts between entities.
SpaceX also holds billions of dollars in federal contracts with NASA, the Department of Defense and intelligence agencies, which all have some authority to review M&A transactions for national security and other risks.
