Elon Musk bought the social network X from Elon Musk. The richest man in the world has announced a corporate operation among his companies with an exchange of actions whereby his artificial intelligence firm XAI acquires ancient now, the assessment of the social network shares has been 33,000 million dollars, but 45,000 million if the debt is counted.
When a company buys another through an exchange of shares, the valuations are relative. In this case, an assessment of the XAI artificial intelligence firm has been taken as a reference, created last year, of 80,000 million dollars, for its part, the social network business X has been valued at 45,000 million, of which 33,000 million correspond to the shareholders and 12,000 million to the debt.
The corporate operation has been where both businesses have praised. “Since its foundation two years ago, XAI has quickly become one of the world’s main laboratories, building data models and centers at an unprecedented speed and scale.
Musk sees meaning to unite both companies under the same umbrella. The tycoon born in South Africa has repeatedly used the social network to promote Grok, a chatbot developed by XAI. Elon Musk’s artificial intelligence company competes with Openai, of which Musk was co -founder before a bitter break with the company.
The tycoon had previously probed possible investors for an XAI financing round with an assessment of about 75,000 million dollars, according to in February. Among the investors of Xai are Capital Sequoia, Andreessen Horowitz, Fidelity Investments and Blackrock. For its part, the social network captured about 1,000 million dollars in new funds of investors, in an operation that gave the company an assessment according to what MUSK had it privatized in 2022, also according to the financial agency.
The company is also on its way to registering its purchase by Musk. The company is expected to generate 1,310 million dollars in advertising in the United States in 2025, which represents an increase of 17.5%, according to the Emarketer research company. Worldwide, it is estimated that the advertising income of X will grow by 16.5%, to 2,260 million dollars. It seems to be sufficient incentive for companies to announce again in the social network, although it circulates the misinformation at full speed, amplified with frequency by the bulles and lies of the Musk itself.
“The future of Xai and X are intertwined. Today we officially take the step to combine the data, models, computer science, distribution and talent. This combination will unlock an immense potential by combining the advanced capacity and experience of Xai’s advanced with the enormous scope of X. The combined company will offer more intelligent and significant experiences to billions of people, keeping faith truth and advance knowledge ”,“ This will allow us to build a platform that not only reflects the world, but actively accelerates human progress.
