Elon Musk has sold his social media site X to xAI, the artificial intelligence company he also owns, in an all-stock deal worth $33 billion. The billionaire announced the move on Friday, saying it will “unlock immense potential” by combining xAI’s advanced AI capabilities with X’s massive reach.
Musk bought Twitter, which is now called X, for $44 billion in 2022 and has since changed its policies to reduce hate speech and misinformation. He launched xAI a year later and the two companies are now merging.
The deal values xAI at $80 billion, while X will retain $33 billion. The combined company aims to deliver “smarter, more meaningful experiences” to billions of people, staying true to its core mission of seeking truth and advancing knowledge.
X users won’t see a significant change from the deal, as xAI already uses data from X posts to train its AI models and offers an AI chatbot called Grok to both paying and non-paying users.
Source: https://apnews.com/article/x-musk-sale-xai-b245f463076ac9b72c41f92160dc77eb