Elon Musk said today that he has merged X and Xai into a deal that appreciates the social network that is previously known as Twitter for $ 33 billion. Musk bought Twitter for $ 44 billion in 2022.
Xai gained X “in a transaction in the entire Stock. The combination appreciates $ 80 billion and X for $ 33 billion ($ 45 billion less $ 12 billion debts),” Musk wrote today on X.
X and Xai have already worked together, while Xai's Grok is trained on X reports. Grok is made available to X users, where paying subscribers get higher usage limits and more functions.
“Xai and X's Futures are intertwined,” Musk wrote. “Today we officially take the step to combine the data, models, calculation, distribution and talent. This combination will unlock a huge potential by combining Xai's advanced AI capacity and expertise with the enormous range of X.”
Musk said that the combined company “will build a platform that not only reflects the world, but actively speeds up human progress.”
Xai and X are held privately. “Some details of the deal were not yet clear, such as whether investors have approved the transaction or how investors can be compensated,” Reuters wrote.
The reported value of the company that was previously called Twitter, under the ownership of Musk. Fidelity, an X -investor, appreciated X at less than $ 10 billion in September 2024. But at the same time the value of X recovered that Musk was getting a major influence in the US government with the inauguration of President Donald Trump.
On the AI front, Musk also tried to buy OpenAi and to prevent the company from being completed its planned conversion from a non-profit to profit motive.
