Elon Musk has announced the acquisition of his social media platform X by xAI, his artificial intelligence company, in a deal valued at $45 billion. Musk stated that the combination of both companies merges their strengths with X valued at $33 billion after accounting for debt. He emphasized their intertwined futures and the immense potential unlocked by integrating xAI's advanced capabilities with the vast reach of X, promising to deliver smarter experiences to users while upholding their mission of truth and knowledge enhancement. The acquisition follows a resurgence of major advertisers returning to the platform.
Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach.
The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt); the deal makes sense for both sides.
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