Elon Musk’s AI company, xAI, has acquired social media platform X (formerly Twitter) in an all-stock deal, valuing xAI at $80 billion and X at $33 billion, including $12 billion in debt. Musk emphasized that merging xAI’s AI expertise with X’s vast reach will unlock significant potential. Despite X’s declining value since Musk’s $44 billion purchase in 2022, xAI’s valuation has surged alongside industry giants like Nvidia and OpenAI. The deal reflects Musk’s history of integrating his companies, akin to Tesla’s acquisition of SolarCity.
Source: The Verge
