Elon Musk mentioned on Friday that his xAI has acquired X, the social media app previously often known as Twitter, in an all-stock transaction for $45 billion, together with $12 billion debt.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk mentioned in a publish on X, including that the mixed firm could be valued at $80 billion.
Neither X nor xAI instantly responded to a request for remark.
The billionaire’s AI startup, which was launched in 2023, just lately raised $6 billion from traders in a funding spherical that valued the corporate at $40 billion, sources advised Reuters earlier.
Musk in February made a $97.4 billion bid with a consortium for the ChatGPT maker OpenAI, which was rejected, with OpenAI saying that the startup was not on the market.
As competitors in AI intensifies, xAI has been ramping up its knowledge middle capability to coach extra superior fashions, and its supercomputer cluster in Memphis, Tennessee, known as “Colossus,” is touted as the biggest on the earth.
xAI launched Grok-3, the newest iteration of its chatbot, in February, because it tries to compete with Chinese language AI agency DeepSeek and Microsoft-backed OpenAI.
Musk clinched a deal in 2022 to purchase X for $44 billion, ending its run as a public firm since its 2013 preliminary public providing, declaring that “the bird is freed” as soon as the acquisition closed.
