Elon Musk sold social media platform X to his AI company, xAI, for $33 billion in an all-stock deal, aiming to integrate advanced AI capabilities with a wide-reaching social media network. Musk believes this merger will create immense potential and enhance user experiences, though the changes for current X users remain unclear.
Elon Musk has completed the sale of his social media platform, X, to his artificial intelligence company, xAI, for a striking $33 billion in an all-stock transaction. This move has been announced on Friday, marking a significant shift in both entities while neither is required to disclose their financial standings due to their private status. Musk elaborated that the deal assigns a valuation of $80 billion to xAI and $33 billion to X, highlighting an intriguing blend of tech and social media.
In a post on the platform formerly known as Twitter, Musk emphasized the potential of integrating xAI’s cutting-edge AI technology with X’s expansive user base, saying this union could provide profound benefits. Musk, who wears many hats as CEO of Tesla and SpaceX and has been a presidential advisor, once purchased Twitter for $44 billion in 2022. Following this acquisition, he made sweeping changes, including staff reductions and policy updates, ultimately rebranding it as X.
Musk’s announcement conveyed a vision of intertwined futures for both companies, stating that merging their resources, data, and talent will yield incredible opportunities. He stated, “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” Musk’s focus remains on transforming user experiences while adhering to a core mission of truth-seeking and knowledge advancement.
Current users of X may wonder how this acquisition will affect them. Notably, xAI already utilizes data from X user posts to train its AI models. Paying users can engage with xAI’s chatbot, Grok, while non-subscribers are allowed to pose 10 questions every two hours. As this new chapter unfolds, the impact on user experience remains to be seen.
The recent transaction between Elon Musk’s social media site X and his AI company xAI reflects a strategic move to enhance the capabilities of both entities. Valued at $80 billion, xAI aims to integrate its advanced technology with X’s extensive reach. While the implications for users are still uncertain, Musk’s focus on delivering smarter and meaningful interactions appears steadfast, aligning with his core mission of advancing knowledge and seeking truth.
Original Source: abc7.com
