29.03.2025 09:01
The artificial intelligence company xAI, owned by one of the world's richest entrepreneurs Elon Musk, has acquired the social media platform X, which is also owned by Musk.
Musk announced on his X account that xAI has fully acquired X based on its stock.
Musk noted that with this transaction, xAI's value is $80 billion, while X's value is $33 billion. Elon Musk also stated that X has a debt of $12 billion.
"GROWING IN AN UNPRECEDENTED WAY"
Musk stated, "Since its establishment two years ago, xAI has rapidly become one of the world's leading artificial intelligence laboratories by building models and data centers at an unprecedented speed and scale." He pointed out that X is also a resource that has attracted more than 600 million active users, noting that the social media platform has been positioned for scalable growth over the past two years.
"WILL UNLOCK A GREAT POTENTIAL"
Musk expressed that the futures of xAI and X are intertwined, stating:
"Today, we are officially taking steps to combine data, models, computing, distribution, and capabilities. This merger will unlock great potential by blending xAI's advanced artificial intelligence capabilities and expertise with X's tremendous reach. The combined company will provide smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge. This way, we will be able to create a platform that not only reflects the world but also actively accelerates the progress of humanity."
Musk, appreciating the significant dedication of everyone at xAI and X who brought them to this point, emphasized that this is just the beginning.