xAI Acquires Social Media Platform X in $33 Billion Deal

xAI Acquires Social Media Platform X in $33 Billion Deal

Elon Musk's AI company, xAI, has acquired the social media platform X in an all-stock transaction valued at $33 billion. The merger aims to integrate AI capabilities with X's extensive user base.

Elon Musk's AI company, xAI, has acquired the social media platform X in a deal valued at $33 billion, according to CNBC. The transaction, structured as an all-stock deal, aims to combine xAI's advanced AI capabilities with X's extensive reach.

Musk announced the merger on X, highlighting the integration of data, models, compute, distribution, and talent between the two companies. The acquisition is expected to enhance xAI's ability to train its chatbot, Grok, by leveraging X's user data and distribution network.

The deal values xAI at $80 billion and involves a stock swap, with X investors receiving shares in xAI. This strategic move is seen as a consolidation of Musk's leadership across his ventures, further intertwining the futures of xAI and X.

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