Musk sells X to his own xAI
- Elon Musk sold the social media platform X to his artificial intelligence company, xAI, in an all-stock deal announced on a Friday.
- Musk's acquisition of Twitter in 2022 for $44 billion led to significant changes, including staff reductions, policy modifications regarding hate speech and user verification, and ultimately, the renaming of the platform to X, followed by the launch of xAI a year later.
- The combination of xAI and X aims to integrate data, models, compute, distribution, and talent, potentially delivering smarter experiences, but the exact impact on X users remains unclear.
- Musk stated that the deal values xAI at $80 billion and X at $33 billion, highlighting the potential to blend xAI's AI capabilities with X's extensive reach, while X carries $12 billion in debt.
- Despite Musk's claim that X has 600 million monthly active users, X's adjusted income has decreased significantly since Musk's acquisition, leading to concerns about potential bankruptcy, though xAI's funding may provide support, with Linda Yaccarino expressing optimism about the future.
61 Articles
61 Articles
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