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Elon Musk’s xAI firm acquires X (Formerly Twitter) for $33bn

In a move that has captured the tech world’s attention, Elon Musk’s artificial intelligence company, xAI, has acquired the social media platform X (formerly known as Twitter) in an all-stock transaction. This deal values xAI at $80 billion and X at $33 billion, inclusive of $12 billion in debt. Musk highlighted the strategic importance of this merger, emphasizing the synergy between xAI’s advanced AI capabilities and X’s extensive user base of over 600 million active users. He stated that combining the data, models, computing power, distribution, and talent from both companies will unlock immense potential, aiming to deliver smarter and more meaningful experiences to billions of people. This acquisition marks a significant milestone in Musk’s vision to integrate artificial intelligence with social media, creating a unified platform that leverages real-time data to enhance AI models and user interactions. The merger is expected to provide xAI with proprietary data access, giving it a competitive edge in the AI industry. Industry analysts view this move as a strategic consolidation of Musk’s ventures, potentially streamlining operations and fostering innovation at the intersection of AI and social media. The combined entity is poised to redefine user engagement by integrating cutting-edge AI technologies into the social media experience.

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