Elon Musk’s artificial intelligence group buys X for $45bn

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The Elon Musk’s artificial intelligence group purchased the social media platform X for $ 45 billion, as the businessman brings the billionaire among his leading companies.

“The future of Xai and X is intertwined,” Musk said on Friday evening, adding that it will combine data, models, computing power, distribution and talent for the two companies.

Musk said that the deal of all shares estimated Xai at $ 80 billion, although it has not provided details about the nature of the treatment. Xai received a rating of $ 45 billion in a $ 5 billion financing round in late last year.

The deal was announced on Friday, which includes $ 12 billion in debt, and X values ​​are slightly higher than the price of $ 44 billion that Musk paid to take the private company in October 2022 and comes after a $ 1 billion donation rally tour this month.

It sheds light on the recovery in the X wealth, which retreated after the Musk acquisition, where advertisers withdrew their spending from the platform, citing fears of his approach to moderation.

A group of seven Wall Street also sold all $ 12.5 billion loans to finance his Twitter seizure in 2022.

The lenders were burdened with debt while Musk sought to convert x operations as stock investors reformulated their shares on the platform with exciting discounts.

The interest of the investor in loans improved in the weeks that followed Donald Trump’s electoral victory in November, given the billionaire proximity to the new administration as a rapporteur for the president and head of the alleged government efficiency Ministry that intends to cut off the government red strip.

Among the investors at X Andressen Horowitz, Sequoia Capital, 8VC, Goanna Capital and Fidelity Investments. Sequoia, Andressen Horowitz and Fidelity are also investors in Xai.

Musk launched Xai in 2023 “to understand the true nature of the universe” and challenge the dominance of Sam Altman’s Openai. Since then, her Chatbot has launched, GROK, and the expansion of its data center through the Colossus SuperCCOLPUTER group.

“This mixture will open tremendous potential by mixing the advanced capacity of artificial intelligence from XAI with XAI with access to X,” said Mosk. “This will allow us to build a platform that does not only reflect the world, but also speeds up the activity of human progress.”

Indeed, data from X, which MUSK said has more than 600 million active users, to train GROK. In contrast, the most advanced Grok features are offered to push the distinguished subscribers at X.