Elon Musk's xAI has acquired X (formerly Twitter) in an all-stock deal valuing X at $45 billion. This move aims to intertwine xAI's advanced AI capabilities with X's extensive user base, enabling better training of AI models like Grok. Despite a drop in value since Musk's initial purchase of Twitter at $44 billion, X's valuation has increased with the return of some advertisers. However, X still struggles with revenue, having earned only $91 million so far this year, well short of its target. Musk also plans to launch a videogame studio under xAI.
Musk announced that xAI has acquired X in an all-stock deal worth $45 billion, despite prior valuation drops after Twitter's purchase.
Musk claims xAI's value at $80 billion by combining it with X, leveraging user data for AI training, aiming to unlock immense potential.
xAI raised $6 billion in funding, planning to integrate its AI products like Grok with X, enhancing capabilities and reach.
Despite some recovering advertiser relationships, X struggles to meet revenue targets, bringing in only $91 million this year against a goal of $153 million.
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