Elon Musk announced that xAI, his AI corporation, has acquired X (formerly Twitter) in an all-stock deal, valuing xAI at $80 billion and X at $33 billion. Since Musk's 2022 acquisition of Twitter for $44 billion, the platform's valuation has dropped significantly due to shifts in advertising and moderation practices, reflecting a 72% decline. Musk hopes this integration of resources between xAI and X will strengthen both companies, combining data, models, and talent for future growth.
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 unprecedented scales, emphasizing our ongoing commitment to innovation.
The combination values xAI at $80 billion and X at $33 billion, revealing the significant financial dynamics at play following Musk's 2022 acquisition which saw the value of the platform decline by 72%.
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