Elon Musk says xAI has acquired X in deal that values social media site at $33 billion

Elon Musk announced that his startup xAI has merged with X in an all-stock transaction, valuing xAI at $80 billion and X at $33 billion. Musk stated that the merger will combine their data, models, compute, distribution, and talent to unlock immense potential by blending xAI’s advanced AI capability with X’s massive reach. The merger comes after Musk’s acquisition of Twitter and launch of xAI with a goal to understand the universe, competing directly with OpenAI and other AI companies.

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