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.

  • OldWoodFrame@lemm.ee
    23·
    14 days ago

    Market cap of Twitter was $41B, Musk overpaid at $44B,

    Fidelity valued it at $9.4B late last year.

    xAI paid $33B for it this year.

    So this is a significantly worse overpay.

    • gamer@lemm.ee
      6·
      14 days ago

      It’s all to defraud investors. The SEC isn’t going to touch him, and when the earnings report for Tesla is due I bet it’s going to show that the woke libtards were wrong and Tesla sales actually quadrupled in the past 4 months.