The owner of X has emphasized that the new entity will "actively accelerate human progress," not merely reflect the world.
Billionaire Elon Musk has announced that he has sold his social media platform X, formerly known as Twitter, to his fellow artificial intelligence (AI) company xAI.
The total value of the shares in the transaction has been set at 45 billion dollars (around 41.16 billion euros), including 12 billion dollars (around 11 billion euros) in debt, Musk himself reported in a post on his X account.
Separately, "the combination values xAI at $80 billion (around €73.94 billion) and X at $33 billion (€30.5 billion)," the magnate has qualified, stressing that their "combination will unlock immense potential by combining xAI's advanced AI capability and expertise with X's massive reach."
"The futures of xAI and X are intertwined. Today we officially take the step of combining data, models, computing, distribution and talent," he celebrated, while assuring that "the combined company will offer smarter and more meaningful experiences to billions of people, staying true to (its) core mission of seeking truth and advancing knowledge."
"The combined company will deliver smarter, more meaningful experiences to billions of people, staying true to our core mission of pursuing truth and advancing knowledge," Musk said.
The owner of X has emphasized that the new entity will "actively accelerate human progress," not merely reflect the world.
This transaction streamlines the interaction between the social network and xAI, which has used information obtained from X to feed and improve its chatbot.
The CEO of Tesla and SpaceX completed the purchase of the former Twitter company at the end of October 2022 for $44 billion, immediately proceeding after the acquisition to dismiss its top executives, renegotiate contracts, and close offices.
In the last year, Musk has incorporated the Grok service into the social network, an artificial intelligence model that powers the chatbot of the same name, developed by xAI and trained largely with messages from X users.
The startup xAI competes with artificial intelligence companies such as OpenAI, the developer of ChatGPT, which Musk co-founded and served on its board of directors until 2018.
