Elon Musk's xAI Acquires X: A $45 Billion Deal

Elon Musk announced that his AI startup, xAI, has acquired X, formerly known as Twitter, for $45 billion in an all-stock deal. This merger sees the integration of data, models, and talent, valuing the new entity at $80 billion. xAI recently secured $6 billion in investments.

Elon Musk, entrepreneur and CEO, has revealed that his artificial intelligence (AI) startup, xAI, has taken over X, the social media platform previously identified as Twitter. The acquisition, an all-stock transaction, is valued at $45 billion, inclusive of debt.

Musk emphasized the strategic alignment between xAI and X, highlighting their shared future. 'Today, we officially take the step to combine the data, models, compute, distribution, and talent,' Musk wrote on X, projecting the newly formed company to reach a valuation of $80 billion.

The AI startup, founded by Musk in 2023, has already generated $6 billion through investors, achieving a valuation of $40 billion, according to inside sources. This acquisition marks a significant step in Musk's venture to leverage AI in the social media landscape.

(With inputs from agencies.)