Elon Musk’s artificial intelligence company, xAI, made a major announcement on Friday, revealing that it has acquired X in a groundbreaking all-stock deal. This deal, valued at a whopping $113 billion, marks a significant milestone for both companies as they join forces to revolutionize the world of AI.
In a statement shared on X, Musk expressed his excitement about the merger, stating that it will combine the strengths of both companies in data, models, compute, distribution, and talent. With xAI valued at $80 billion and X at $33 billion (including $12 billion in debt), the combined entity is set to make a huge impact in the tech industry.
Musk highlighted the synergy between xAI’s advanced artificial intelligence capabilities and X’s massive online presence, boasting over 600 million active users. He emphasized that the merger will lead to the delivery of smarter and more meaningful experiences to billions of people worldwide, while upholding the shared mission of seeking truth and advancing knowledge.
Since its inception just two years ago, xAI has experienced rapid growth, developing models and infrastructure at an unprecedented pace. Musk commended X for its evolution into a digital town square and hailed it as one of the most efficient companies globally. The combined company is poised to leverage the strengths of both entities to drive innovation and create value for users.
Musk concluded his statement by expressing gratitude to the dedicated teams at xAI and X for their hard work and commitment. He hinted at a bright future ahead, emphasizing that this merger is just the beginning of an exciting journey towards pushing the boundaries of AI technology.
As xAI and X come together under one roof, the tech world eagerly anticipates the groundbreaking advancements and transformative experiences that this powerful alliance will bring. Stay tuned for more updates as the combined company sets out to redefine the future of artificial intelligence.