Elon Musk announced the acquisition of his social media platform X (formerly Twitter) by his AI firm xAI in an all-stock deal valued at $80 billion for xAI and $33 billion for X. Musk emphasized that uniting xAI's advanced technology with X's vast audience would enhance user experiences and focus on truth and knowledge advancement. Since its inception, xAI has rapidly emerged as a leading AI lab. This acquisition, reflecting Musk's vision, aims to drive human progress using AI capabilities integrated with social media influence, poised for significant growth.
xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).
The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge.
Collection
[
|
...
]