X, the social platform formerly known as Twitter, has been sold.
On a recent Friday, Elon Musk announced that his AI company, xAI, had completed an all-stock deal to acquire X. This transaction estimates the worth of xAI at a staggering $80 billion and X at approximately $33 billion. The original price Musk proposed for taking X private was $45 billion, but with $12 billion in debt subtracted, this is the remaining value.
That’s $1 billion more than the take-private price of $44 billion in 2022.
The future of xAI and X are now inextricably linked, as we announce our decision to merge their data, models, computing power, distribution networks, and skilled workforces. This union will unlock vast potential by merging xAI’s cutting-edge AI technology with X’s extensive reach. The merged entity will provide more intelligent, impactful experiences to billions of users while staying committed to our founding principles of truth-seeking and knowledge advancement. By doing so, we aim to create a platform that not only mirrors the world but also propels human development forward.
Musk, undeniably, serves as both the CEO and major shareholder at Tesla, and heads SpaceX, a growing space company and potential telecom titan. The details surrounding this deal are yet unclear in terms of its impact on X’s consumer offerings or its staff, including Linda Yaccarino, an established executive from the television industry who leads X.
Yaccarino added in a post, “@X + @xAI The future could not be brighter.”
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2025-03-29 00:54