X, the social platform formerly known as Twitter, has been acquired in a significant deal. Elon Musk announced on Friday that xAI, his artificial intelligence company, has purchased X in an all-stock transaction. This acquisition values xAI at $80 billion and X at $33 billion, which is $1 billion higher than the take-private price in 2022.
Musk stated that the futures of xAI and X are interconnected, with the combination of their data, models, compute, distribution, and talent leading to immense potential. By merging xAI’s advanced AI capabilities with X’s extensive reach, the new company aims to provide smarter and more meaningful experiences to billions of users. This collaboration is driven by a core mission of seeking truth and advancing knowledge in order to accelerate human progress.
As the CEO of Tesla and SpaceX, Musk’s involvement in the deal raises questions about the future of X’s consumer-facing product and the fate of executives like X CEO Linda Yaccarino. Yaccarino expressed optimism about the acquisition, stating that the future for X and xAI looks bright.
Overall, the acquisition of X by xAI signifies a strategic move towards leveraging AI technology to enhance user experiences and promote progress. Stay tuned for more updates on this exciting development.
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