Elon Musk’s xAI acquires X in $45 billion all-stock deal

As of my knowledge cutoff in October 2023, there were no official announcements or reports indicating that Elon Musk’s artificial intelligence company, xAI, merged with the social media platform X (formerly known as Twitter) in a $45 billion all-stock deal. Musk acquired Twitter in October 2022 and rebranded it as X, reflecting his vision of creating an “everything app” that integrates services, including social media, payments, and more.

Musk founded xAI in July 2023 with the goal of advancing artificial intelligence to understand the true nature of the universe. While there was interest in how xAI’s AI capabilities might integrate with X’s user base—reported to be over 600 million active users—no merger between the two companies was publicized.

Musk was vocal about the potential for AI to enhance user experiences on social media platforms. He introduced features like the AI chatbot “Grok” to X, which allows users to engage in interactive conversations, reflecting his interest in combining AI technology with social networking. Despite these developments, a formal merger between xAI and X was not reported.

The article was written with the assistance of a news analysis system.

This post was originally published on this site