Ark Invest has reinvested in X Corp through its Ark Venture Fund, acquiring a stake in Elon Musk's xAI as the two companies merge. Valued together at $113 billion, this merger aims to create XAI Holdings Corp., which integrates xAI's AI models with X's expansive user base to enhance communication and knowledge delivery. Ark sees this merger as a catalyst for consumer AI adoption and plans for further fund adjustments led by Musk highlight confidence in this venture's future success.
The deal created a new combined entity called XAI Holdings Corp., a strategic union that integrates xAI's cutting-edge foundational models with X's massive user base of over 600 million strong to unlock a platform that blends real-time communication with AI-enhanced discovery, truth-seeking, and personalized knowledge delivery.
We believe this merger will be a significant catalyst for consumer AI adoption and foundational model monetization,
Musk is reportedly planning a valuation adjustment for xAI. CNBC's David Faber noted in April that Musk hinted at a new funding round for his artificial intelligence startup during an investor call.
The merger supports Musk's vision to transform X into an 'everything app,' where people can communicate, make monetary transactions, catch up on news, and more.
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