7 months ago
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Elon Musk's AI company, xAI, has purchased X, according to a post shared by Musk. Besides their similar names and owner, the companies are already connected through xAI's chatbot Grok, which is integrated into X.
X was acquired by xAI through an all-stock transaction. "The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt)," Musk writes. "xAI and X’s futures are intertwined." The companies plan on combining "data, models, compute, distribution and talent," using X's reach as a social platform to spread "xAI’s advanced AI capability." The post offers little detail beyond that, but the motivations could be as financial as they are practical.
Source: https://www.engadget.com/social-media/xai-elon-musks-ai-company-just-purchased-x-elon-musks-social-media-company-221503759.html?src=rss
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