Elon Musk has finalized a significant deal, selling the social media platform X to his own artificial intelligence company, xAI, for an impressive $33 billion in an all-stock transaction.
This acquisition is set to combine xAI’s advanced artificial intelligence capabilities with the extensive reach of X, enhancing user experiences across the platform.
In a recent post on X, Musk expressed that this strategic move will “unlock immense potential” by fusing xAI’s innovative AI expertise with the broad audience of X.
The deal values xAI at approximately $80 billion and places X’s value at $33 billion.
Musk had previously purchased the platform, formerly known as Twitter, for $44 billion in 2022, after which he implemented significant changes to staffing and policies regarding content moderation.
Both companies are privately held, meaning they are not obligated to publicly disclose their financial details.
Musk emphasizes that the collaboration between xAI and X will aim to provide more intelligent and meaningful experiences for users while staying committed to the core mission of seeking truth and advancing knowledge.
