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AI buys social media platform X
2025-03-29 09:12:09 / BOTA
Elon Musk announced on Friday that xAI has acquired X, the social media platform formerly known as Twitter.
"@xAI has acquired @X in a single, all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45 billion less $12 billion in debt)," Musk wrote on X.
xAI was founded by Musk in March 2023 and is known for developing the AI chatbot Grok which is integrated into X.
"X is the digital town square where more than 600 million active users go to find the real-time source of ground truth and, in the last two years, has transformed into one of the most efficient companies in the world, positioning it to deliver scalable growth in the future," Musk said.
He added that the future of xAI and X is "intertwined," and the acquisition marks the step toward recognizing the combination.
"This combination will unlock incredible potential, blending xAI's advanced artificial intelligence capability and expertise with X's massive reach.
"The combined company will deliver smarter, more meaningful experiences for billions of people, staying true to our core mission of seeking truth and advancing knowledge," he said.
Musk noted that the development will allow companies to accelerate "human progress."
X was acquired by Musk in 2022 for $44 billion.
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