Musk’s xAI Startup Swallows Up X Social Network in Surprise Deal

Billionaire Elon Musk said his xAI artificial intelligence startup has acquired the X platform for $33 billion, marking a surprise twist for the social network formerly known as Twitter. 

“The combination values xAI at $80 billion and X at $33 billion,” he wrote in an X post on Friday. The X value is $45 billion when including $12 billion of debt, he said. It was an all-stock transaction.
Elon Musk
 
Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at…

“xAI and X’s futures are intertwined,” he said. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”


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