Elon Musk Sells X to His Own XAI
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Elon Musk said Friday his artificial intelligence startup, xAI, has acquired his social media platform, X, for $33 billion in an all-stock transaction.
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Elon Musk announced Friday that his company xAI is buying X, the social media platform formerly known as Twitter, in an all-stock deal. The transaction values xAI at $80 billion and X at $33 billion, according to CNBC.
13hon MSN
Elon Musk's AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, in an all-stock deal.
The mogul said Friday that XAI had acquired the platform formerly known as Twitter in an all-stock transaction.
The companies are being combined in an all-stock deal that values xAI at $80 billion and X at $33 billion, factoring in the social network's $12 billion debt.
The tech billionaire and Donald Trump advisor made the announcement on Friday. It's unclear what will change for users of the social media site. View on euronews
Elon 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.”
Elon Musk's artificial intelligence firm xAI acquired X in an all-stock deal valuing the social media company at $45 billion, minus $12 billion in debt.
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E! Online on MSNElon Musk Sells X, Formerly Twitter, for $33 Billion to His AI StartupElon Musk, who owns both X (formerly Twitter) and the artificial intelligence startup xAI, announced the social media platform has been acquired by his AI company in a deal worth $33 billion.