Elon Musk is bringing the same revolutionary thinking that helped him upend the car industry to the data center business with promises this week to put up to a million new satellites in the sky

Under the proposed merger, shares of xAI would be exchanged for shares in SpaceX (SPACEX), according to a Reuters report on Thursday, which cited a person briefed on the matter and two recent company filings viewed by the news agency. Two entities have been set up in Nevada to facilitate the transaction.