> Well surely this acquisition is above board.

What makes you think it isn’t?

Well, at least this time both companies are fully private.

What's funny? Do you think the investors are against this? The investor's aren't idiots. I imagine the typical investor in Elon Musk's companies would approve of this sort of thing. So what's the problem? Besides, its a private company with Musk as majority shareholder in both. That's the beauty of private companies, you can just do things.

I wish more companies were private and ambitious. I'm tired of companies like Apple making marginal spec bumps to their phones and milking the same products for decades

It's widely reported that Musk is a majority shareholder of xAI and the controlling shareholder of SpaceX (close to 80% of voting shares). Not surprising that he would be looking to consolidate ownership under one entity especially if he perceives significant synergies (i.e., data centres in space).