The start-up for artificial intelligence Xai from tech billionaire Elon Musk takes over his social media platform X for 33 billion dollars, the former Twitter. Musk has that Friday reported on x.
In the transaction, which is executed as a stock exchange, Xai is, according to Musk, appreciated at 80 billion dollars and X at $ 45 billion, minus 12 billion dollars in debts.
The merger is the youngest turn in the rapid power consolidation of the billionaire. Possibly the Deal Musk helps to train its AI model, known as Grok.
“The future of Xai and that of X are intertwined,” Musk wrote on X. “Today we officially take the step to combine the data, models, computing power, distribution and talent. This merger will be very potential by uniting Xai’s advanced AI capabilities and expertise with the enormous range of X.”
The details about the deal are still unclear. Spokespersons of X and Xai did not yet respond to questions from Reuters news agency.
Funding round
Musk, the richest man in the world, bought Twitter in 2022 for $ 44 billion. He launched the Xai startup less than two years ago. Recently that company raised $ 10 billion in a financing round. In addition, it was appreciated at 75 billion.
In February, the 53-year-old Musk made a bid of 97.4 billion dollars on Chatgpt-Maker OpenAi with a consortium. That was rejected; OpenAi announced that the startup was not for sale. In 2015, Musk was a co-founder of OpenAi, now a direct competitor of Xai, together with, among others, CEO Sam Altman.
Musk has brought a lawsuit in California to prevent OpenAi from changing a non-profit organization in a company with a profit motive. A judge rejected his request earlier this month for a provisional order to prevent that transition.
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