X, the social media platform of Elon Musk, has been taken over by Xai, his artificial intelligence company, in a deal worth $ 45 billion. Musk announced the All-Stock Deal on the app on Friday.
“The combination appreciates Xai for $ 80 billion and X for $ 33 billion ($ 45 billion less $ 12 billion debt),” Musk posted.
He added that the two companies Futures 'intertwined' and that the deal was logical for both parties.
“Today we are officially taking 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 added. “The combined company will provide smarter, more meaningful experiences to billions of people while it remains loyal to our core mission to seek truth and promote knowledge.”
Musk previously bought the app known as Twitter at the end of 2022 for $ 44 billion.
The deal comes after large advertisers, including Disney and Apple, have returned to X in recent months. Earlier this week, a new Emarketer report would rise with 17.5% in the US this year to $ 1.31 billion. And worldwide, an estimated sale of X in 2025 $ 2.26 billion is reached-a 16.5% increase on an annual basis. This would be the first time that the advertising sale has increased since Musk bought the app, after back-t0-back years.
Musk said on Friday that X has more than 600 million active users, making it the 'digital city square'. He said that the company “has been transformed into one of the most efficient companies in the world” in the little bit more than two years since he bought it; Musk in particular cut around 80% of Twitter staff when he took over for the first time.
The price tag of $ 45 billion before X stands out, not only because it is $ 1 billion more than what Musk has paid for the app, but because the app was appreciated much less a few months ago; Fidelity, one of the investors of X, appreciated $ 12.32 billion in December.
Remarkable moments for X under Musk have recorded the launch of Grok, the AI model and the reactivation of President Trump's report. The president was forbidden under the leadership of previous boss Jack Dorsey, after the Riot of January 6.
