Elon Musk’s SpaceX has agreed to invest $2 billion in xAI, investors close to the companies said, nearly half of the Grok chatbot maker’s recent equity raise.

Elon Musk ruled out a merger between Tesla and xAI but said he plans to hold a shareholder vote on investment in the artificial intelligence startup by the automaker, in the latest step to deepen integration across his business empire.

If it succeeds, it could push its value as high as $200 billion, 10 times its valuation from early last year, according to sources in the know.  The fundraising is still being discussed and could start next month,