Elon Musk Sells X to His AI Company xAI in $33 Billion Deal
Elon Musk has announced the sale of X, formerly known as Twitter, to his artificial intelligence company, xAI, in a deal that values the social media platform at $33 billion. This strategic move marks a significant shift for X, which Musk had acquired and rebranded just over a year ago. The transaction reflects Musk's ongoing efforts to integrate his various business ventures and focus on advancing AI technology.
The sale comes amidst Musk's broader vision to create a comprehensive AI ecosystem. xAI, which aims to accelerate human scientific discovery, is now poised to leverage X's vast user base and data resources. The deal has sparked discussions about the future of social media and AI integration, with many industry experts curious about how xAI will utilize X's platform to further its mission.
The financial details of the acquisition reveal that xAI paid a hefty sum for X, underscoring the high value placed on social media platforms in the AI sector. This move could potentially set a precedent for other tech companies looking to merge social media with AI capabilities.
Related issues news
Has Elon Musk sold Twitter?
X, the social platform formerly known as Twitter, has been sold. Elon Musk said Friday that xAI, his artificial intelligence company, had acquired X in an all-stock transaction that values xAI at $80 billion and X at $33 billion bit.
Does Elon Musk own Xai?
Musk owned an estimated 80% of X and an estimated 50% of xAI, which he founded in 2023. According to Musk, the deal values xAI at $80 billion. That is likely the pre-X-purchase valuation, so Musk's stake in the new xAI should be worth north of $65 billion.
X talks about this news
Can you Like
