Elon Musk's artificial intelligence firm, xAI, has acquired his social media platform, X, formerly Twitter, for $33 billion. Musk announced that this merger values xAI at $80 billion and indicates a strategic integration of their resources. While specifics of the deal remain unclear due to the private nature of both companies, Musk believes that merging xAI's advanced AI capabilities with X's extensive user base will unlock significant potential. The acquisition follows Musk's previous purchase of Twitter for $44 billion and highlights his ongoing push in the AI sector amid growing competition.
The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt). Musk emphasized the merger's capability to blend xAI's expertise with X's reach.
"xAI and X's futures are intertwined," Musk stated. He underlined the potential of merging advanced AI capabilities with a large social media platform to unlock new opportunities.
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