The billionaire announced Friday that Elon Musk has sold social media site X to his own XAI artificial intelligence company for a full-share deal of $33 billion.
Both companies are privately held, meaning they do not need to disclose their financial status to the public.
Musk said in an article on X that the move will “unlock huge potential by integrating Xai’s advanced AI capabilities and expertise with X’s huge coverage.” The deal is worth $80 billion, and x is $33 billion, he said. Musk, who served as CEO of Tesla and SpaceX, and advised President Donald Trump, who bought the site for $44 billion in 2022, had his employees timid and changed their policies based on hate speech, misinformation and user verification and changed it to x.
A year later, he launched XAI.
“The future of Xai and X is intertwined. Today, we formally take steps to combine data, models, computing, distribution and talent. This combination will unlock huge potential by fusing Xai’s advanced AI capabilities and X range to the huge range on X,” Musk wrote on X. “The merged companies will provide people with more meaningful experiences to achieve our core to make our core kind attitude more meaningful.”
It is not clear whether the move will change anything for X users – XAI has used data from X user posts to train its AI model and pay X users can access their AI Chatbot Grok.
