Elon Musk’s xAI Acquires X in Landmark $33 Billion Stock Deal
Elon Musk’s artificial intelligence company, xAI, has officially acquired the tech mogul’s social media platform, X, in a groundbreaking all-stock transaction that values X at $33 billion. The merger establishes xAI with a valuation of $80 billion, further integrating Musk’s AI ambitions with his digital communications empire. Musk, who also leads Tesla and SpaceX, announced the deal on X, highlighting its potential to merge xAI’s advanced artificial intelligence capabilities with X’s extensive global reach. He emphasized that the combined entity will drive innovation, providing smarter and more meaningful experiences while staying committed to the mission of truth-seeking and knowledge advancement. A Strategic Move to Transform X X, formerly known as Twitter, was acquired by Musk in 2022 for $44 billion, with the goal of reducing censorship and unlocking the platform’s untapped potential. Over the past two years, Musk has transformed X into what he describes as one of the mos...