Elon Musk’s X bought by way of his AI corporate xAI

Elon Musk-owned X, up to now referred to as Twitter, has been bought by way of his AI corporate xAI.

This announcement got here from Musk via a submit on his X account, revealing that X used to be bought by way of xAI in an all-stock transaction, valuing xAI at $80 billion and X at $33 billion ($45B much less $12B debt).

X, then Twitter, used to be bought by way of Musk in 2022 for roughly $44 billion and has been mired in controversies for various causes. With its acquisition by way of xAI, Musk stated this mixture of X and xAI, whose “futures are intertwined,” will liberate immense possible by way of “mixing xAI’s complex AI capacity and experience with X’s huge achieve.”

This is your entire submit by way of Musk:

xAI has bought X in an all-stock transaction. The combo values xAI at $80 billion and X at $33 billion ($45B much less $12B debt).

Since its founding two years in the past, xAI has abruptly transform probably the most main AI labs on the planet, construction fashions and information facilities at extraordinary velocity and scale.

X is the virtual the city sq. the place greater than 600M energetic customers move to seek out the real-time supply of flooring fact and, within the remaining two years, has been reworked into one of the vital environment friendly firms on the planet, positioning it to ship scalable long run expansion.

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xAI and X’s futures are intertwined. Lately, we formally take the step to mix the knowledge, fashions, compute, distribution and ability. This mixture will liberate immense possible by way of mixing xAI’s complex AI capacity and experience with X’s huge achieve. The mixed corporate will ship smarter, extra significant reviews to billions of folks whilst staying true to our core project of in quest of fact and advancing wisdom. This may occasionally let us construct a platform that doesn’t simply replicate the arena however actively speeds up human development.

I want to acknowledge the hardcore determination of everybody at xAI and X that has introduced us thus far. That is just the start.

Thanks in your persisted partnership and reinforce.