X sold! It's new boss is....Elon Musk; Billionaire sells social media platform to his own company xAI

X sold! It's new boss is....Elon Musk; Billionaire sells social media platform to his own company xAI

Trending | Business & Economy | World | Elon Musk sells his social media platform X to his AI company xAI for $45 billion, including $billion in debt.

Elon Musk announced on Friday that he had sold X to artificial intelligence company xAI. The latter paid $45 billion for the social media platform, not much more than Elon Musk bought it for in 2022, but the company has accumulated $12 billion in debt, Index wrote, citing CNN.

Elon Musk has announced the sale of social network X (formerly Twitter) to his startup xAI for $45 billion. The deal includes $12 billion in debt and aims to integrate the platform with artificial intelligence technologies, according to CNN.

Today we officially take the step to combine data, models, computation, distribution and talent, Musk said in a post - What does it say about the company's valuation

Musk’s xAI Buys Social Media Platform X for $45 Billion

Elon Musk said on X that ‘xAI and X’s futures are intertwined.’ He bought Twitter for $44 billion in 2022.

The $45 billion transaction will see Elon Musk combine the social media platform and AI development.