Elon Musk says XAI has acquired X as well as estimating X by $ 33 billion

Elon Musk On Friday, he said his startup XAI was united with X, his social network, in an aggregate operation that estimates the company of artificial intelligence of $ 80 billion, and the company on social media-33 billion.

“Xai and X futures”, Musk, the richest man in the world, wrote In a message on X. “Today we officially take a step to combine data, models, calculations, distribution and talent.”

He added that the merger would “unlock the huge potential by mixing the advanced capacity of the II with the massive achievement of X.”

Because both companies are privately controlled and Musk is controlled, the transaction is likely to make a stock swap, and X investors receive payments to XAI stocks. The companies have a number Mutual investorsIncluding Andresen Gorivitz Venture Firms and Seque Capital, as well as Fidelity Management, VY Capital and Kingdom of Saudi Arabia Holding.

A Tesla And the CEO of SpaceX purchased Twitter in an agreement, which is about $ 44 billion at the end of 2022, introducing large cuts and soon rename it X. Linda Yaccarino, which Musk reliced ​​as CEO of X, wrote after the announcement on Friday.

Musk launched XAI less than two years ago with the stated goal “to understand the true character of the universe.” The startup tried to try directly with Openai, richly evaluated by AI startup, which Musk founded in 2015 as a non-profit research laboratory. He later left Openai, and recently participated in public relations and legal advantage with the company and CEO Sam Altman on the direction he was accepted.

In the XAI team Musk develops large language models and software products AI by accepting offers from Openai as well as Google. Microsoft. Meta and others. X and XAI have already been intertwined, and the users of the app on social media have Grok Chatbot.

In June, XAI announced that he would build a supercomputer in Memphis, Tennessee, for Grok’s training. And in September Musk disclosed Part of the Memphis’s Super Supper, which is now known as Colossus, has already been on the Internet.

Last year, investors estimated XAI about $ 50 billion. Last month, Bloomberg said the company is negotiating funds when estimating $ 75 billion. Openai was closed to complete the round in February by $ 260 billion, and the AI ​​generative anthropic startup was anthropic estimated in $ 61.5 billion In the agreement that closed this month.

In addition to launching Tesla, SpaceX and Xai and oversee X, Musk spent most of his time this year in Washington as a central figure in President Donald Trump The second administration.

Following the introduction of $ 270 million to help Trump and other republican candidates and reasons for the 2024 campaign, Musk was responsible for the recently formed Ministry of Government Efficiency (DOGE), which eliminates state expenses and deprivation of the rules. This is a position that puts Musk in a position to make changes to the ways that benefit from different enterprises.

This is not the first time Musk united his two formations.

In 2016, Tesla purchased $ 2.6 billion. The solar installation was founded by its first cousins ​​Lindan and Peter Riva, and a Musk, who held the post of chairman, was funded. Later, Tesla’s shareholders sued, saying that the transaction made rescue assistance and a violation of the trust, which was personally enriched by Musk. Judge Delaware who heard the dispute Decided in favor of Musk Both Tesla, and allowed the deal standing without rewarding back to the automaker.

See: X acquires xai