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Elon Musk sells X to his own xAI for $33 billion in all-stock deal

Economic Times · 5d

Elon Musk has sold the social media platform X to his AI company, xAI, in a $33 billion all-stock transaction. The deal aims to unlock potential by merging xAI's advanced capabilities with X's broad reach. Both firms are privately held, so their finances remain undisclosed. Musk values xAI at $80 billion and X at $33 billion. This merger intends to enhance user experiences and uphold the mission of seeking truth and advancing knowledge.