BEIJING: Over the weekend, China’s top tourism authority added the names of five tourists to a list published online that attempts to name and shame “uncivilized behavior” by Chinese tourists when they travel abroad. There are now 16 individuals on this list of embarrassing tourists, which was launched by the China National Tourism Administration in January.
Among those added to the list were two women and a man who brawled on a flight from Cambodia to the Chinese city of Chengdu. According to reports in the Chinese media, that incident erupted after a woman reclined her seat too far. The plane was delayed for an hour after the pilot asked officials to remove the squabbling passengers.
Another man named punched a Japanese convenience store clerk after the clerk asked the man’s wife to stop opening and eating food items in the store because the couple had not paid for them.
When Beijing announced in January that it planned to publicly shame unruly tourists, Chinese citizens were encouraged to take photos or video of any bad behavior they spotted and pass it on to authorities.
16 names on Beijing’s list of ‘uncivilized’ Chinese tourists
16 names on Beijing’s list of ‘uncivilized’ Chinese tourists
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.
