SAN FRANCISCO:
Elon Musk’s xAI has acquired X in a deal that values the social media platform at $33 billion and allows the value of his artificial intelligence firm to be shared with his co-investors in the company formerly known as Twitter.
The deal could also help xAI’s ability to train its chatbot known as Grok.
“xAI and X’s futures are intertwined,” Musk, who also heads automaker Tesla and SpaceX, wrote in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”
He said the combination values “xAI at $80 billion and X at $33 billion ($45 billion less $12 billion debt)”.
Much of the deal’s specifics remain unclear, such as how X’s leaders would be integrated in the new firm or whether there would be regulatory scrutiny.
Musk, the world’s wealthiest man, is also a close ally of US President Donald Trump and heads the Department of Government Efficiency.
