Elon Musk sells X for $33 billion to his own AI startup company xAI

Elon Musk sells X for $33 billion to his own AI startup company xAI

Elon Musk announced Friday that he sold social media site X in a $33 billion all-stock deal to his own AI startup company, xAI

The tech billionaire shared the news in a statement posted on X, writing, “xAI and X’s futures are intertwined.

Today, we officially take the step to combine the data, models, compute, distribution and talent.”

“This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” Musk, 53, wrote in his announcement.

Source: https://globalnews.ca/news/11104574/elon-musk-sells-x-xai-33-billion/