"This combination will unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach," Musk said in a post on his social network.
San Francisco:Elon Musk on Friday said his artificial intelligence startup xAI is buying his social networking platform X in a deal valuing the company once known as Twitter at $33 billion.
"This combination will unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach," Musk said in a post on his social network.
X has more than 600 million users, and its future is "intertwined" with that of xAI, launched two years ago, according to Musk.
"Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said of combining the two companies.
"This will allow us to build a platform that doesn't just reflect the world but actively accelerates human progress."
The companies are being combined in an all-stock deal that values xAI at $80 billion and X at $33 billion, factoring in the social network's $12 billion debt.
Musk bought Twitter for $44 billion in late 2022 in a transaction that included debt and launched xAI the following year, spending billions of dollars on high-end Nvidia chips for the venture.
%20and%20the%20other%20Sildenafil%20(Viagra),%20placed.webp)
,%20showcasing%20Aligarh%20Muslim%20University%20(AMU)%20with%20its%20iconic%20architecture,%20bustling.webp)
0 Comments