Baku, Azerbaijan, March 29. Elon Musk on Friday
evening announced he has sold his social media company, X, to xAI,
his artificial intelligence company, Trend reports.
“xAI has acquired X in an all-stock transaction. The combination
values xAI at $80 billion and X at $33 billion ($45B less $12B
debt).
Since its founding two years ago, xAI has rapidly become one of
the leading AI labs in the world, building models and data centers
at unprecedented speed and scale.
X is the digital town square where more than 600M active users
go to find the real-time source of ground truth and, in the last
two years, has been transformed into one of the most efficient
companies in the world, positioning it to deliver scalable future
growth.
xAI and X’s futures are intertwined. 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 combined company will deliver smarter, more meaningful
experiences to billions of people while staying true to our core
mission of seeking truth and advancing knowledge. This will allow
us to build a platform that doesn’t just reflect the world but
actively accelerates human progress.
I would like to recognize the hardcore dedication of everyone at
xAI and X that has brought us to this point. This is just the
beginning.
Thank you for your continued partnership and support,” Musk
wrote on his page on X.