Musk's xAI Acquires Twitter in $113 Billion Mega-Merger
Summary
In a blockbuster $113 billion deal, Elon Musk's AI firm xAI has acquired the social media giant X (formerly Twitter), valuing xAI at $80 billion and X at $33 billion, with Musk claiming the merger will 'unlock immense potential' by fusing AI with X's global reach.
Key Points
- Elon Musk announced that his AI company xAI has acquired the social media platform X (formerly Twitter) in an all-stock deal
- The deal values xAI at $80 billion and X at $33 billion
- Musk said the merger will 'unlock immense potential' by combining xAI's AI capabilities with X's massive reach