Chamath Palihapitiya Launches New $250 Million SPAC Focused on AI

Chamath Palihapitiya, the former Facebook executive and known for his success in Special Purpose Acquisition Companies (SPACs), is back with a new offering. American Exceptionalism Acquisition Corp., a $250 million blank-check company focused on artificial intelligence (AI), has filed for its IPO. The SPAC will seek mergers within this space, as well as potentially in decentralized finance (DeFi), energy production, or defense technologies, according to the latest filing.