Elon Musk merges X with his (AI) company!
New York, New York, USA Mar 28 (EFE).-
Billionaire Elon Musk announced on Friday that he has merged the social media platform X with his artificial intelligence (AI) company, xAI, through a stock acquisition deal aimed at integrating their data, capabilities, and resources.
“This combination will unlock immense potential by blending xAi’s advanced AI capabilities and knowledge with X’s massive reach,” Musk stated on X, adding that his goal is to build a platform that “accelerates human progress.”
Musk revealed that xIA acquired X in a transaction valuing the AI company at 80 billion dollars and the social media platform at 33 billion, factoring in 12 billion dollars in debt from Musk’s 2022 purchase of the platform, previously known as Twitter.
“The futures of xAI and X are intertwined. Today we have officially taken the step to combine data, models, computing power, distribution, and talent,” said Musk, who also serves as CEO of Tesla and is an advisor in Donald Trump’s administration.
Despite fluctuations in his net worth, Musk remains the world’s richest person. He emphasized that the newly combined company will provide “ smarter and more meaningful experiences” while maintaining its “mission of seeking truth and promoting knowledge.”
Musk explained that since its founding two years ago, xAI has become one of the world’s leading AI research labs. Meanwhile, X, often described by Musk as a “digital town square,” has improved its efficiency and developed significant growth potential.
The sale of X to xAI comes after Musk recently admitted in an interview that managing his numerous business ventures while serving as head of the US Department of Government Efficiency (DOGE) was proving difficult.
So far, X’s integration into xAI has not led to immediate changes for users. The platform already features Grok, xAI’s chatbot, but Musk has not provided details on potential future updates.
Musk initially purchased Twitter in Oct. 2022 for approximately 45 billion dollars before rebranding it as X.
While today’s disclosed valuation of 33 billion dollars represents a decrease, it contradicts some financial analysts’ estimates of a much steeper drop in value following the platform’s controversial transformation. EFE nqs/seo/dgp
