X, formerly Twitter, has been acquired by xAI, Elon Musk\u2019s public-benefit AI corporation and the maker of AI chatbot Grok.\u00a0<\/p>\n
Musk, who bought the social platform in 2022, announced the deal in a post on X Friday afternoon. \u201cxAI has acquired X in an all-stock transaction,\u201d the billionaire wrote.\u00a0<\/p>\n
Musk claimed that the transaction will value xAI at $80 billion and X at $33 billion\u2014or $45 billion minus $12 billion in debt.<\/p>\n
He added in his post: \u201cxAI and X\u2019s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.\u201d<\/p>\n
\n@xAI<\/a> has acquired @X<\/a> in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt). <\/p>\n
Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at\u2026<\/p>\n
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