Elon Musk said his xAI artificial intelligence company has acquired the X program, which he himself controls, at a valuation of$ 33 billion, marking a shock twist for the cultural system formerly known as Twitter.
” The combination values xAI at$ 80 billion and X at$ 33 billion”, the billionaire wrote Friday in a post on X. The value of X is$ 45 billion when including$ 12 billion of loan, he said, describing the order as an all-stock purchase. Morgan Stanley was the only businessman on the package, representing both edges.
For Musk, the offer streamlines his firms and solidifies the connection between X and xAI, which has used data from the social system to improve its robot. The package offers a solution to X’s sponsors following weeks of confusion over the state of their purchase as Musk’s modifications led to an exodus of users and advertisers.
“XA I and X’s prospects are linked”, Musk posted. ” Today, we actually take the step to merge the data, models, determine, transmission and skill. This mixture will access enormous potential by blending xAI’s developed AI capability and expertise with X’s large reach”. Musk acquired Twitter for$ 44 billion in 2022.
