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<\/div>\nElon Musk says that his AI venture xAI has acquired his social media platform X, formerly known as Twitter.<\/p>\n
In an X post Friday, Musk said the all-stock transaction values xAI at $80 billion and X at $33 billion.<\/p>\n
Musk paid $44 billion for Twitter in 2022.<\/p>\n
“xAI and X’s futures are intertwined,” Musk wrote on X Friday. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”<\/p>\n<\/div>\n
The move may be aimed at protecting investors, who helped him buy purchase X, from losing money.<\/p>\n
Both X and xAI are privately held and share some major investors. They also share significant resources.<\/p>\n
“The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge,” Musk wrote.<\/p>\n
XAI has used data from social media posts on X to train its models, and its chatbot Grok is a prominent feature on the platform.<\/p>\n
“The move appears sensible, considering the current trend of increased investments in AI, data centres, and computing,” said analyst Paolo Pescatore, founder of PP Foresight. <\/p>\n
Mr Musk has been locked in a legal battle with OpenAI, the company he-founded in 2015 with CEO Sam Altman.<\/p>\n
Last year, Mr Musk sued OpenAI and Mr. Altman for straying from the company’s original mission and pushing to transition the startup to a for-profit model.<\/p>\n
On Friday, the Wall Street Journal reported that OpenAI was finalizing a $40 billion funding round with the Japanese conglomerate SoftBank. The outlet also reported the funds are contingent on the company completing its restructuring to a for-profit entity.<\/p>\n
OpenAI did not respond to a BBC inquiry about the arrangement.<\/p>\n
Critics say Mr Musk is suing the ChatGPT makers because he wanted to control it.<\/p>\n
Earlier this year, a consortium led by Mr Musk made an unsolicited $97.4 billion takeover bid for OpenAI, which Mr Altman rejected, saying the company is not for sale.<\/p>\n
The business manoeuvring is happening as Mr Musk has taken more of an interest in politics, now serving as President Donald Trump’s right-hand. <\/p>\n
He has spearheaded the administration’s push to slash federal spending and is spending the weekend in Wisconsin where he has contributed millions to a state Supreme Court race.<\/p>\n
Wisconsin’s attorney general asked a court Friday to block Mr Musk from distributing $1 million checks to voters there ahead of the election. <\/p>\n<\/div>\n
Published at Sat, 29 Mar 2025 02:01:34 +0000<\/p>\n","protected":false},"excerpt":{"rendered":"
Musk’s xAI buys his social media platform X Elon Musk says that his AI venture xAI has acquired his social media platform X, formerly known as Twitter. In an X post Friday, Musk said the all-stock transaction values xAI at $80 billion and X at $33 billion. Musk paid $44 billion for Twitter in 2022.… Continue reading Musk’s xAI buys his social media platform X<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":3302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/3303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/comments?post=3303"}],"version-history":[{"count":0,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/3303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media\/3302"}],"wp:attachment":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media?parent=3303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/categories?post=3303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/tags?post=3303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}