Elon Musk's xAI company acquired X at a valuation of $33 billion. Billionaire Elon Musk said that his artificial intelligence startup, xAI, acquired the X social media platform at a valuation of $33 billion. Musk was on the X platform on Friday...

Elon Musk's xAI Acquires X at a Valuation of $33 Billion

Billionaire Elon Musk said his artificial intelligence startup, xAI, has acquired the X social media platform at a valuation of $33 billion. Musk wrote in a post on the X platform on Friday, "The combined xAI is valued at $80 billion, and X is valued at $33 billion." He said that including $12 billion in debt, X's valuation is $45 billion. It's an all - stock deal. He said, "The futures of xAI and X are closely linked. Today, we've officially taken a step towards combining data, models, computing, distribution, and talent. By combining xAI's advanced AI capabilities and expertise with X's vast reach, this combination will unleash huge potential." Linda Yaccarino, CEO of X, confirmed the xAI deal, saying, "The future couldn't be brighter.

—— Bloomberg

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