Elon Musk has revealed that xAI has successfully acquired the social media platform X through an all-stock transaction, valued at $80 billion for xAI and $33 billion for X. This merger aims to create a more robust platform that enhances user experiences by blending xAI's advanced AI capabilities with X's vast user base. The transaction is anticipated to facilitate the raising of future funding for the combined entity and position it well for scalable growth. Musk emphasized that this combination will allow for the delivery of smarter and meaningful experiences to users.
Elon Musk announced this week that xAI has acquired his social media platform X, performed through an all-stock transaction expected to make it easier to raise additional funding for the combined entities.
In a post on X on Friday, Musk stated that combining the companies 'will deliver smarter, more meaningful experiences,' and provide a 'platform that doesn't just reflect the world but actively accelerates human progress.'
Collection
[
|
...
]