Elon Musk has announced the merger of his AI startup, xAI, with his social media platform, X, in a stock-only deal valued at $33 billion.
This move raises xAI’s valuation to $80 billion.
In a post on X, Musk highlighted that the merger will integrate xAI’s cutting-edge AI technology with X’s extensive user base and distribution network, unlocking new opportunities for AI-driven innovation.
“Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale,” Musk stated.
He described X as a “digital town square” with over 600 million active users, emphasizing that the union of AI expertise with global reach will create “smarter, more meaningful experiences” while upholding the mission of seeking truth and advancing knowledge.
Musk further asserted that this integration will reshape AI and social media, promising to enhance user experiences and accelerate human progress on a global scale.
