Elon Musk's xAI has acquired the X platform, formerly known as Twitter, at a valuation of $33 billion, bringing both companies together under XAI Holdings, with a total worth exceeding $100 billion. This all-stock transaction aims to streamline Musk's businesses, integrating xAI's advanced AI capabilities with X's massive user base. The acquisition is expected to resolve uncertainties among X's backers, following prior challenges under Musk's leadership, including significant job cuts and controversial policy changes. Musk emphasized that the futures of xAI and X are closely linked, aiming to unlock potential through this merger.
XAI and X's futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.
The combination values xAI at $80 billion and X at $33 billion, giving a new entity called XAI Holdings a total value of over $100 billion.
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