Elon Musk announced that xAI has acquired X, the social media platform formerly known as Twitter, for $45 billion in an all-stock transaction that includes $12 billion in debt. He highlighted the strategic imperative of combining resources between xAI and X, noting that their futures are interconnected, aiming for a combined valuation of $80 billion. xAI, which raised $6 billion earlier this year and is valued at $40 billion, is ramping up its capabilities to compete in the AI sector, recently unveiling its Grok-3 chatbot while facing stiff competition from other tech giants.
Elon Musk stated that xAI has acquired X, the social media app formerly known as Twitter, in a $45 billion all-stock deal.
Musk emphasized that the futures of xAI and X are intertwined, aiming to combine their resources, data, and talent for enhanced AI development.
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