Ilon Musk’s xAI buys X

Ilon Musk’s artificial intelligence company, xAI, has acquired social media platform X (formerly known as Twitter) for $33 billion. The deal was the next step in the billionaire’s rapid consolidation of power.

The deal is the next step in the billionaire’s rapid consolidation of power.

The deal announced Friday combines two companies from Musk’s portfolio, which also includes Tesla and SpaceX. It could simplify the process of training his AI model, known as Grok.

The deal could make it easier for Musk to train his AI model, known as Grok.

In his post on X, Musk said the total value of the merger is $80 billion, and X is valued at $33 billion (including $12 billion in debt). He said that «the future of xAI and X are intertwined» and that the merger will integrate data, models, computation and talent.

And that the merger will allow for the integration of data, models, computing and talent.

Neither xAI nor X has commented on the deal yet, and many details remain unclear, including compensation for investors and possible regulatory scrutiny. Analyst Paolo Pescatore said the development came as a surprise and ends the «tumultuous saga» surrounding X.

An analyst said that the deal was a surprise and ends the «tumultuous saga» surrounding X.

Analyst Gil Luria added that the $45 billion figure is no coincidence – it’s a billion more than the deal to privatize Twitter in 2022, which could help share the value of xAI’s business with X co-investors.

Musk, who is the world’s richest man, is also increasing his influence in Washington by overseeing the Trump administration’s efforts to cut spending. Investors in xAI see the deal as a way to consolidate Musk’s power in his companies.

Musk is also increasing his influence in Washington, D.C.

Startup xAI was founded less than two years ago and recently raised $10 billion in a funding round, valuing the company at $75 billion. In February, Musk offered $97.4 billion for OpenAI, but his offer was rejected.

Musk’s offer was rejected.

As competition in AI intensifies, xAI has been ramping up its data center capacity to train more complex models. In February, the company unveiled a new version of its Grok-3 chatbot to compete with OpenAI and other players in the market.

The company has been working on a new version of its Grok-3 chatbot to compete with OpenAI and other players in the market.

After acquiring Twitter, Musk cut back on staff, which led to a loss of advertisers and a drop in revenue. Recently, however, brands have started to return to the platform.

And it’s been a big hit lately.

The seven banks that lent Musk $13 billion to buy X were only able to sell their debt last month, driven by growing interest in AI companies and X’s improving financial performance.

Seven banks that lent Musk $13 billion to buy X were able to sell their debt just last month, driven by growing interest in AI companies and X’s improving financial performance.

In addition, the judge denied Musk’s motion to dismiss a lawsuit that alleges he defrauded former Twitter shareholders by waiting too long to disclose his investment in the company.