Elon Musk's company, xAI, has acquired social media platform X in an all-stock transaction, valuing xAI at $80 billion and X at $33 billion. This move intends to leverage both companies' strengths, particularly xAI's advanced AI capabilities and X's extensive reach as a social platform. The acquisition may also assist in managing Musk's debt from taking X private. xAI's chatbot Grok is already integrated within X, highlighting the potential for future collaboration. This acquisition mirrors Musk's previous strategic merger of Tesla with SolarCity.
Elon Musk's AI company, xAI, has purchased X in an all-stock transaction valued at $80 billion, intertwining the futures of both companies.
Musk's post highlights the integration of xAI's chatbot Grok into X, showcasing their connected capabilities and potential benefits.
xAI aims to leverage X's social platform to enhance its AI capability, combining models, data, and talent in a novel intersection of technology.
The acquisition helps alleviate Musk's debt from taking Twitter private and reflects a strategic move reminiscent of Tesla's 2016 merger with SolarCity.
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