- Elon Musk chose to unite his AI startup XAI with his social media platform X for a $33 billion all-stock contract.
The agreement has raised Xai’s valuation to $80 billion.
Elon Musk chose to combine his AI startup XAI with his social media platform X to trade in stock for just $33 billion. The merger raises XAI’s valuation to $80 billion.
In a post on X, Musk, who owns two companies, mentioned that this merger will merge Xai’s cutting-edge AI technology with X’s large user base and distribution systems, creating new possibilities for AI-driven advancements.
“Since its founding two years ago, Xai has quickly become one of the world’s leading AI labs, building models and data centers at unprecedented speed and scale.
“X is a digital city square with over 600 million active users finding real-time sources of truth.”
“The merger brings together XAI’s expertise in artificial intelligence with X’s global reach to create a platform that “provides billions of people with smarter, more meaningful experiences while being true to our core mission of seeking truth and promoting knowledge.” ”
Elon Musk further pointed out that the integration of XAI and X will reshape AI technology and social media.
He promised to provide billions of dollars worldwide with enhanced, meaningful experiences while pushing forward human progress.
