Elon Musk said on Friday that he has sold social media site X to his own xAI artificial intelligence business in a $33 billion all-stock deal.
Both companies are privately held, which means they are not forced to disclose their finances to the public.
In a post on X, Musk claimed that the move would “unlock immense potential by blending XAI’s advanced AI capability and expertise with X’s massive reach.”
He stated that the deal values xAI at $80 billion and X at $33 billion.
Laptops 1000Musk, who is also President Donald Trump’s advisor and the CEO of SpaceX and Tesla, purchased the website Twitter for $44 billion in 2022, fired all of its employees, changed its policies regarding hate speech, misinformation, and user verification, and renamed it X.
A year later, he launched xAI.
The fates of xAI and X are interwoven.
We formally begin the process of integrating the data, models, computation, distribution, and talent today.
Musk stated on X, “This combination will unlock immense potential by combining X’s massive reach with XAI’s advanced AI capability and expertise.”
“Billions of people will receive smarter, more meaningful experiences from the combined company while adhering to our core mission of advancing knowledge and seeking truth.”
It’s unclear if the change will affect X users because xAI currently trains its AI models using data from X user postings, and Grok, its AI chatbot, is available to paying X users.
