XAI Acquires Social Media Platform X for $45 Billion

Elon Musk announced that his artificial intelligence company, xAI, has acquired the social media platform X (formerly Twitter) in an all-stock deal valued at $45 billion, which includes $12 billion in debt. This acquisition values X at $33 billion and xAI at $80 billion, marking a significant step for xAI, which has quickly risen as a leading AI lab since its founding in 2023. Musk emphasized that the merger will combine the advanced AI capabilities of xAI with the vast reach and efficiency of X, which now serves over 600 million users. He stated that this union aims to deliver smarter experiences while adhering to the mission of fostering truth and advancing knowledge. The deal reflects Musk's broader vision of integrating technology and social media to enhance user engagement and accelerate human progress. The consolidation of resources is expected to create a powerful entity in the tech industry, leveraging both companies' strengths.