Elon Musk announced that his artificial intelligence company, xAI, has acquired the entire business of X, formerly known as Twitter, at a valuation of $45 billion, including X’s debts worth $12 billion, bringing the actual value to $33 billion. This deal was completed through an all-stock transaction with xAI.
The inclusion of X into xAI’s portfolio has increased the overall business valuation to $80 billion. Musk emphasizes the interconnected future of xAI and X, spanning from data collection, processing, to unlocking numerous opportunities through advanced AI capabilities that can access vast amounts of data on X. This aligns with xAI’s goal of creating artificial intelligence to explore the truth of the world, foster knowledge, and appreciate the dedication of the entire team that has worked diligently to bring xAI and X to this point. This is just the beginning.
Now delving into the numbers, Elon Musk bought Twitter, now rebranded as X, in 2022 for $44 billion. In the realm of artificial intelligence, he also made a bid to acquire OpenAI last month at a valuation of $97.6 billion, a proposal that was ultimately rejected by OpenAI.
TLDR: Elon Musk’s xAI acquires business X, formerly Twitter, at a valuation of $45 billion, further showcasing the interconnected future of AI in unlocking vast opportunities.
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