403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Elon Musk Announces xAI’s Acquisition of X
(MENAFN) Elon Musk revealed on Friday that xAI has acquired X, the social media app formerly known as Twitter.
“@xAI has acquired @X in an all-stock transaction. The combination values xAI at USD80 billion and X at USD33 billion (USD45B less USD12B debt),” Musk shared on X.
Founded by Musk in March 2023, xAI is recognized for creating the AI chatbot Grok, which is merged into X.
“X is the digital town square where more than 600M active users go to find the real-time source of ground truth and, in the last two years, has been transformed into one of the most efficient companies in the world, positioning it to deliver scalable future growth,” Musk stated.
He emphasized that the future of xAI and X is “intertwined,” and the acquisition represents a significant step toward realizing the full potential of the combined companies.
“This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach. The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge,” he added.
“@xAI has acquired @X in an all-stock transaction. The combination values xAI at USD80 billion and X at USD33 billion (USD45B less USD12B debt),” Musk shared on X.
Founded by Musk in March 2023, xAI is recognized for creating the AI chatbot Grok, which is merged into X.
“X is the digital town square where more than 600M active users go to find the real-time source of ground truth and, in the last two years, has been transformed into one of the most efficient companies in the world, positioning it to deliver scalable future growth,” Musk stated.
He emphasized that the future of xAI and X is “intertwined,” and the acquisition represents a significant step toward realizing the full potential of the combined companies.
“This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach. The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge,” he added.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment