Elon Musk’s xAI Acquires X in $33 Billion All-Stock Deal, Merging AI with Social Media
Elon Musk has taken a transformative step by merging his artificial intelligence venture xAI with the social media platform X (formerly Twitter) in a $33 billion all-stock acquisition. The strategic deal marks a new chapter in Musk’s effort to blend cutting-edge AI with social connectivity, a move he describes as unlocking “immense potential.”Key Highlights:Deal Valuation and Strategic SynergyA Vision to Accelerate Human ProgressA Timeline of Rapid GrowthTransformation of Twitter into XLeadership Optimism and Forward PathA New Era for xAI and XDeal Valuation and Strategic SynergyMusk stated that the merger values xAI at $80 billion and X at $33 billion, noting that the latter figure reflects $45 billion minus $12 billion in debt. The acquisition seeks to combine “da...