Elon Musk foretell Friday that his company xAI is buying X , the societal media political platform formerly known as Twitter , in an all - inventory deal . The transaction values xAI at $ 80 billion and X at $ 33 billion , according toCNBC .
“ xAI has acquired X in an all - stock transaction . The combination values xAI at $ 80 billion and decade at $ 33 billion ( $ 45B less $ 12B debt ) , ” Musk pinch Friday even .
Musk purchased Twitter in October 2022 for about $ 44 billion , changing the name of the company to X , and founded xAI just five calendar month afterward as an contrived tidings company . Musk ’s tweet announce the sale called X the “ genuine - meter source of ground truth ” for 600 million active user globally .
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In realism , Musk ’s change to Twitter have transformed it into a hotbed of far - right extremism , where neo - Nazis and confederacy theorists who were once banish — from Nick Fuentes to Alex Jones — have been welcome back with assailable arms . Musk had previously said he would n’t reinstate Jones , who had been blackball in 2018 , but obviously changed his mind about a class after buying the situation .
Musk intelligibly visualise an opportunity for his societal medium caller and AI company to grow better together , perhaps because the X brand has become so toxic to normal people . Traffic at X reportedly plummet after the 2024 presidential election .
“ xAI and X ’s future are intertwined . Today , we formally take the step to combine the information , good example , compute , dispersion and endowment . This combination will unlock vast potential by blending xAI ’s advanced AI capability and expertness with X ’s monumental reach , ” Musk ’s tweet learn .
Musk ’s tweet really tried to stress that his ship’s company are all about “ truth , ” something contradicted by his frequent lies and obfuscation about his activity with DOGE . Just yesterday , Musk said that he was go to give people on Social Security more money , something he has absolutely no assurance to do .
“ The combined company will fork over wise , more meaningful experience to billions of masses while remain dead on target to our center foreign mission of seek truth and win cognition , ” Musk ’s tweet learn . “ This will take into account us to work up a political program that does n’t just reflect the world but actively accelerates human advance . ”
Musk close his tweet by using one of his preferred words , “ hardcore , ” to thank the staff at both companies .
“ I would like to realise the hard-core loyalty of everyone at xAI and X that has wreak us to this gunpoint . This is just the beginning . give thanks you for your continued partnership and support , ” Musk write .
Elon MuskTwitterX
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