Billionaire added that the X has over 600 million users, although it has not specified its connection frequency, and said its future is “interconnected” with Xai’s, launched two years ago
The billionaire announced on Friday (28) that his startup of Xai bought the social network X, also on his property, “in a transaction involving only shares”, which evaluates the platform at $ 33 billion (190 billion reais, at the current price) not to mention the debt. “This merger will unlock immense potential by combining the advanced capacity and experience of XAI with the massive range of X,” Musk published on the social network. He added that the X has over 600 million users, although he has not specified his connection frequency, and said his future is “interconnected” with Xai’s, launched two years ago. “Today, we officially took the step to combine data, models, computing, distribution and talent,” he said.
The richest man in the world, founder of Tesla and Spacex, had bought the platform, which was called Twitter in late 2022 for $ 44 billion ($ 235 billion, at the time). Both companies combine in an agreement that values Xai at $ 80 billion (R $ 461 billion) and the X at US $ 33 billion, 45 billion less 12 billion debt. For Musk, the merger of its two companies will allow you to “build a platform that is not limited to reflecting the world, but actively accelerating human progress”.
Xai
Musk founded Xai in 2023 in response to ChatgPT’s success, the pioneer of Generative Artificial Intelligence released in late 2022 by OpenAi, a startup he helped create before cutting ties with other founders. Xai launched in February the latest version of its chatbot, Grok 3, which Musk expects to find traction in a highly competitive sector played by ChatgPT and Chinese DeepSeek. The billionaire described Grok 3 as “frighteningly intelligent”, with 10 times more computational resources than his predecessor launched in August. This operation occurs, moreover, while Musk acts as a close counselor of US President Donald Trump.
He supervises severe cuts of public spending as director of the Department of Government Efficiency (Doge), in charge of dismissing thousands of employees and dismantling entire bodies. Musk was one of the main donors of the campaign that placed Republican Trump back at the White House in January. Emarketer analysts anticipated this week that X -growing advertising revenues this year, as brands fear musk reprisals, now with wide political connections if they do not invest in their platform. “Many advertisers can consider spending in X as a cost of doing business to mitigate possible legal or financial repercussions,” said Jasmine Enberg, the main analyst at Emarketer.
*With information from AFP
Posted by Sarah Paula
