AIxCrypto signs term sheet to acquire Faraday Future's robotics business at ~$200M valuation

Deal structure and valuation

AIxCrypto Holdings (Nasdaq: AIXC) signed a non-binding term sheet to acquire Faraday Future Intelligent Electric's robotics business in an all-stock transaction valued at approximately $200 million. The share price is set at the lower of $2.246 per share or the five-day average closing price before signing, implying an illustrative pre-transaction equity value of about $55 million on a fully diluted basis. AIxC would issue restricted shares to Faraday Future subject to an 18-month lock-up, and if the deal price falls below $2.246, AIxC would declare a one-time special stock dividend to holders of record prior to closing, payable only at closing and subject to tax analysis.

Rebrand to FF EAI Robotics Ecosystem

Upon closing, AIxCrypto intends to discontinue its crypto strategy entirely and transform into a pure-play robotics ecosystem company. The company would be renamed FF EAI Robotics Ecosystem Inc., and its Nasdaq ticker would change from AIXC to FFR, effective September 30, 2026. Both boards have approved the term sheet, with management framing the combined entity as aiming to become the first Nasdaq-listed pure-play "Four-Core Full-Stack AI" robotics ecosystem company. If completed, Faraday Future is expected to become AIxC's single largest controlling stockholder and to consolidate FFR's financial results into its own statements subject to applicable accounting treatment.

Robotics unit's reported progress

In less than one year, Faraday Future's EAI robotics business has completed Phase One of its "Built in USA" Acceleration Program and is advancing the "One-Brain Multi-Form, Multi-Capability" FF EAI Robot World 2.0. The company has launched 24 FCC-certified products across three robot forms, with user deliveries underway. Cumulative EAI Device sales and shipments reached 552 units by the end of August, second-quarter average robotics gross margin exceeded 30%, and cumulative revenue reached approximately $1.52 million. Beyond hardware, the EAI Brain has entered engineering testing and delivery, Developer Platform 1.0 went live, the EAI Data Factory established an initial commercial closed loop, four Industry Productivity Solutions launched, and RoboShare secured multiple paid orders.

Preliminary projections and capital plans

Preliminary projections prepared by Faraday Future management for the robotics business on a standalone basis contemplate unaudited revenue of approximately $7.1 million in 2026 at a positive gross margin and approximately $45.17 million in 2027 at 30.5%. Cumulative 2026–2030 revenue is projected at approximately $1.98 billion, with growing cumulative EAI Device sales exceeding 130,000 units, and the business is projected to reach positive operating cash flow in the third quarter of 2028. The projections also anticipate roughly $300 million in cumulative five-year R&D investment and a revenue mix shift from EAI Device sales toward the EAI Brain and Developer Platform, Industry Productivity Solutions, and the EAI Data Factory. AIxCrypto has not adopted these projections as its own guidance.

Pending approvals and closing conditions

The transaction remains subject to diligence, definitive agreements, regulatory approvals, and approval by Special Committees of the boards of AIxC and Faraday Future. An independent fairness opinion is also still unresolved as a gating step before any definitive acquisition can proceed. Faraday Future separately announced a strategic upgrade positioning itself as a Robotaxi and EAI Cabin shared-mobility operator and a Physical AI investment holding company, including potential connectivity with the Cybercab network, though that restructuring is distinct from the AIxC robotics combination.