The US billionaire Elon Musk has revealed that his AI company, xAI has taken over social media giant X (formerly Twitter) in a 33 billion dollar all-stock deal.
The move, announced yesterday, aims to merge xAI’s cutting-edge artificial intelligence with X’s vast user base, paving the way for innovations.
Elon Musk’s AI company, xAI, has officially merged with X (formerly Twitter) in an all-stock deal, meaning no cash was involved. While both companies are privately owned and not required to share financial details. Musk confirmed that xAI is valued at 80 billion dollars and X at 33 billion dollars.
Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”
Musk, who serves as CEO of Tesla and SpaceX as well as an advisor to Presidend Donald Trump, bought the site then called Twitter for $44 billion in 2022, gutted its staff and changed its policies on hate speech, misinformation and user verification and renamed it X. He launched xAI a year later.
