Elon Musk announced that its artificial intelligence startup xAI has acquired social media platform X (formerly Twitter), in a deal valuing the latter at approximately $33 billion.
In a post on X, Musk said that this acquisition " opens up immense possibilities by combining the advanced capabilities of artificial intelligence and the expertise of xAI with the massive reach of X ».
He said that X has more than 600 million users, and its future is now closely linked to that of xAI, which was founded two years ago.
Regarding the merger, Musk added:
« Today, we take an official step toward integrating data, models, computing power, distribution, and talent. »
And he continues:
« This will allow us to create a platform that not only reflects the world, but actively contributes to accelerating human progress. »
The deal is structured as a full stock swap. It values xAI at approximately $80 billion and X at approximately $33 billion, taking into account $12 billion of debt incurred by the social network.
As a reminder, Musk acquired Twitter in late 2022 for $44 billion, in a deal that included significant debt. He launched xAI the following year and invested billions of dollars in cutting-edge Nvidia chips to support the project.
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