Elon Musk announced on Friday (28) that his startup Xai merged with X, his social network, in a transaction totally in actions that evaluates the artificial intelligence company at $ 80 billion and the social media company at $ 33 billion.
“The future of Xai and X are intertwined,” said Musk, the richest person in the world, in a post on X. “Today we officially take the step to combine data, models, computing, distribution and talent.”
has acquired 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…
— Elon Musk (@elonmusk)
The billionaire said the merger will “unlock immense potential by combining AI’s advanced capacity and Xai expertise with the huge range of X.”
The Tesla and Spacex CEO acquired Twitter in a business valued at about $ 44 billion in late 2022, implementing large cost cuts and then renamed it to X.
