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Elon Musk’s artificial intelligence company Xai has acquired Tech Billionaire’s social media platform X with a blockbuster deal valued X at $33 billion.
Tesla and SpaceX CEOs made an announcement on social media platforms on Friday, saying the deal is an all-stock deal that unlocks massive possibilities by blending Xai’s advanced AI capabilities and expertise with X’s big reach.
He said the combination will value Xai $80 billion, $33 billion in X, or $45 billion less than $12 billion in debt.
The image in this photo shows the Xai logo displayed on a smartphone with the official profile of Elon Musk from the background social network X. Xai has acquired Tech Billionaire’s social media platform X as a blockbuster. (Jaque Silva/Sopa Images/Lightrocket via Getty Images)
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Musk, the world’s wealthiest man, bought X, previously known as Twitter, for $44 billion in 2022, rolling back censorship on the platform, while also saying it’s underutilized.
“The Total Company provides a smarter and more meaningful experience for billions of people, while still remaining true to our core mission of promoting knowledge for the truth,” Musk wrote.
“This allows us to build a platform that not only reflects the world, but also actively accelerates human progress.”
He writes that X is Digital Town Square, with over 600 million active users going to find a real-time source for Ground Truth.
“In the last two years, we have transformed into one of the most efficient companies in the world, positioning them to bring about scalable future growth,” writes Musk.
Xai’s flagship product is Grok. This is an AI chatbot that is already integrated into X for premium subscribers. It is intended to compete with other chatbots like ChatGpt created by Openai. Zai is also competing with Google’s Gemini and Anthropic’s Claude.
In December 2024, Musk asked the court to stop the transition to a for-profit organization, Reuters reported. (Chesnot/Getty Images/Getty Images)
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Musk co-founded Openai in 2015 with Sam Altman, Ilya Sutskever and Greg Brockman, but split from the company in early 2018 after failing to secure control as a majority shareholder and CEO. He later tried to convince the founder to merge with Tesla.
Musk then founded Xai in March 2023, raising $10 billion in a funding round that valued the company at $75 billion, according to a media report. Xai launched its new chatbot Grok-3 last month.
In December 2024, Musk asked the court to stop the transition to a for-profit organization, Reuters reported.
Xai’s flagship product is Grok. This is an AI chatbot that is already integrated into X for premium subscribers. (Photo by Jakub Porzycki/Nurphoto via Getty Images/Getty Images)
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As AI competition grows, Xai is increasing the ability of its data centers to train more advanced models, and its supercomputer cluster in Memphis, Tennessee, called “Colossus,” is touted as the largest in the world.
The X platform provides real-time feeds of user meditation, screenshots and other data, and helps you distribute your Xai products further.
Reuters contributed to this report.
