Staff Reporter
Elon Musk has officially sold the social media platform X to his artificial intelligence company, xAI, in a $33 billion all-stock transaction, he announced on Friday.
Both companies are privately held, meaning they are not obligated to disclose financial details to the public.
Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”
He said the deal values xAI at $80 billion and X at $33 billion. Musk, who serves as CEO of Tesla and SpaceX as well as an adviser to President Donald Trump, bought the site then called Twitter for $44 billion in 2022, gutted its staff and changed its policies on hate speech, misinformation and user verification and renamed it X.
He launched xAI a year later.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine our data, models, computing resources, distribution, and talent. This synergy will unlock immense potential, blending xAI’s advanced AI capabilities with X’s broad reach,” Musk wrote on X.
He added, “The combined company will deliver smarter, more meaningful experiences to billions while staying true to our core mission of seeking truth and advancing knowledge.”
It remains unclear whether this sale will alter the experience for X users. xAI already utilizes data from X user posts to train its AI models, and paying users have access to the AI chatbot, Grok, while non-paying users can ask the chatbot 10 questions every two hours.
