Technology

Musk’s xAI buys social media platform X for $71.5b

In a social media post on X, Elon Musk said the futures of his artificial intelligence venture and X are “intertwined”.

Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Elon Musk said on Friday (Saturday AEDT) that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $US45 billion ($71.5 billion), including debt.

“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said in a post on X, adding that the combined company would be valued at $US80 billion. Reuters Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe.

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