XAI, the artificial intelligence startup of Elon Musk, has acquired the social media platform X (former Twitter) for 45,000 million dollars. Everything is at home … at Musk’s house.
«The future of Xai and X is intertwined »Musk wrote in the announcement: «Today, we officially take the step to combine data, models, computing, distribution and talent. This combination will release immense potential by combining advanced capacity and experience in Xai with the massive reach of X »explained the billionaire.
The operation will be carried out by means of a TRANSATION OF ACTIONS which includes the total valuation of X (33 billion dollars) and also its debt of 12,000 million dollars. It is not known if there will be executive dance between the CEO of X Linda Yaccarino or Igor Babuschkin, co -founder of Xai, who launched messages similar to those of Musk. And neither the consequences for the template of employees because the consensus consequently to this type of operations are afraid.
It should be remembered that Musk bought Twitter in 2022 and subsequently renamed it as X in an operation that involved obtaining billions of dollars in loans from a group of Wall Street banks and other credit entities. After the control by Musk and the collapse of the advertising business of X, the banks had difficulties in giving loans to interested buyers.
Credit entities often try to resell the debt to other investors quickly to liquidate it from their balance sheets and obtain benefits from the associated commissions. The Wall Street Journal described the fiasco as “The worst acquisition for banks from the financial crisis”.
But the financial situation of X took a turn after the re -election of Donald Trump and the appointment of Musk to direct the so -called government efficiency department of the administration. More investors were interested in debt as advertisers returned to the company and Musk’s links with the White House and Trump narrowed. Musk gave X investors a 25 percent participation in XAI last year, which helped boost the value of the social media platform and provide more security to lenders.
While Xai’s products, including their Grok chatbot, they were already closely integrated into the X platform, this operation further combines the two companies and Confirm Musk’s great ambitions. The artificial intelligence startup of the billionaire, which was launched in 2023, recently raised 6,000 million dollars of investors.
According to The Wall Street Journalthe actions of X and XAI will be redeemed by actions of a new holding xAI Holdings Corp. For an estimated global assessment of 113,000 million dollars. The media comments that the executives of both companies believe that it will be easier to raise new investments in the combined entity.
The XAI entry buys the social network X appears first in very computerPro.
