"Elon Musk stated that xAI has acquired X, the social media app formerly known as Twitter, in a $45 billion all-stock deal."
"Musk emphasized that the futures of xAI and X are intertwined, aiming to combine their resources, data, and talent for enhanced AI development."
Elon Musk announced that xAI has acquired X, the social media platform formerly known as Twitter, for $45 billion in an all-stock transaction that includes $12 billion in debt. He highlighted the strategic imperative of combining resources between xAI and X, noting that their futures are interconnected, aiming for a combined valuation of $80 billion. xAI, which raised $6 billion earlier this year and is valued at $40 billion, is ramping up its capabilities to compete in the AI sector, recently unveiling its Grok-3 chatbot while facing stiff competition from other tech giants.
Read at New York Post
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