Elon Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion in debt.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said in a post on X, adding that the combined company would be valued at $80 billion.
Neither X nor xAI immediately responded to a request for comment.
The billionaire’s AI startup, which was launched in 2023, recently raised $6 billion from investors in a funding round that valued the company at $40 billion, sources told Reuters earlier.
Musk in February made a $97.4 billion bid with a consortium for the ChatGPT maker OpenAI, which was rejected, with OpenAI saying that the startup was not for sale.
As competition in AI intensifies, xAI has been ramping up its data center capacity to train more advanced models, and its supercomputer cluster in Memphis, called “Colossus,” is touted as the largest in the world.
xAI introduced Grok-3, the latest iteration of its chatbot, in February, as it tries to compete with Chinese AI firm DeepSeek and Microsoft-backed OpenAI.
Musk clinched a deal in 2022 to buy X for $44 billion, ending its run as a public company since its 2013 initial public offering, declaring that “the bird is freed” once the acquisition closed.
Reporting by Seher Dareen in Bengaluru; Editing by Pooja Desai and Sandra Maler
Jelentkezéshez jelentkezzen be
EGYÉB POSTS Ebben a csoportban
Amazon is extending its annual Prime Day sales and offering new membership perks to Ge
How would you spend $342 billion?
A number of games called “Spend Elon Musk’s Money” have been popping up online, inviting users to imagine how they’d blow through the
On Tuesday, AI lab Moonvalley
As Elon Musk announced plans over the Fourth of July weekend to establish a third political party,
Dolores Ballesteros, a Mexico-based mother of two, was getting desperate. Her 6-year-old son kept hitting his brother, age 3, and seemed angry at her all the time. No matter what she did, she coul
Rarely has Silicon Valley experienced a more profound period of transformation than it has in the past handful of years. The big VC boom of 2020–2021. The great VC hangover starting in 2022. The g
