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News@lemmy.worldEnglish · 4 days ago

Elon Musk says xAI has acquired X in deal that values social media site at $33 billion

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technology

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Elon Musk says xAI has acquired X in deal that values social media site at $33 billion

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 4 days ago

cross-posted to:
technology

In a social media post on Friday, Elon Musk said his startup xAI has acquired his social media company X.

Summary

Elon Musk announced that his AI startup xAI has merged with his social media platform X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion.

Musk stated the merger will combine AI expertise with X’s broad reach.

xAI, launched less than two years ago, competes with OpenAI and has developed the Grok chatbot, integrated with X.

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Rookwood@lemmy.dbzer0.com
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4 days ago
Elon has violated securities laws blatantly for years now. Yeah, he won’t be held accountable. And a good half of people still wonder why inequality is such a bad thing.

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