Elon Musk has announced that his artificial intelligence company, xAI, has acquired X (formerly Twitter) in an all-stock deal valued at $33 billion. This acquisition merges their technological resources, aiming to enhance user experiences and establish a more integrated approach to AI development. Since its inception two years ago, xAI has grown rapidly, becoming a leading entity in artificial intelligence, contrasting X's tumultuous past under Musk’s ownership marked by financial struggles. Following market recoveries, including advertising interest resurgence, this strategic move is set to redefine both firms' futures.
The futures of xAI and X are interconnected. Today, we officially take the step to merge our data, models, computing power, distribution, and talent.
This deal marks a significant moment for both companies, which have been on divergent trajectories since Musk acquired Twitter in 2022 for $44 billion.
Despite early failures, X's fortunes began to improve after Donald Trump's reelection and Musk's appointment to the Department of Government Efficiency.
Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers.
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