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By
BARBARA ORTUTAY
Elon Musk has sold social media site X to his own xAI artificial
intelligence company in a $33 billion all-stock deal, the
billionaire announced on Friday.
Both companies are privately held, which means they are not
required to disclose their finances to the public.
Musk said in a post on X that the move will “unlock immense
potential by blending xAI’s advanced AI capability and expertise
with X’s massive reach.” He said the deal values xAI at $80
billion and X at $33 billion. Musk, who serves as CEO of Tesla
and SpaceX as well as an advisor to President Donald Trump,
bought the site then called Twitter for $44 billion in 2022,
gutted its staff and changed its policies on hate speech,
misinformation and user verification and renamed it X.
He launched xAI a year later.
“xAI and X’s futures are intertwined. Today, we officially take
the step to combine the data, models, compute, distribution and
talent. This combination will unlock immense potential by
blending xAI’s advanced AI capability and expertise with X’s
massive reach,” Musk wrote on X. “The combined company will
deliver smarter, more meaningful experiences to billions of
people while staying true to our core mission of seeking truth
and advancing knowledge.”
It's not clear if the move will change anything for X users —
xAI already uses data from X user posts to train its artificial
intelligence models and paying X users have access to its AI
chatbot, Grok.
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