2 days ago
12 ARTICLE AD
Elon Musk’s AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, he announced in a post on X Friday.
“xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” Musk said in the post. “xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.”
This is a developing story… Check back for updates.
Maxwell Zeff is a senior reporter at TechCrunch specializing in AI and emerging technologies. Previously with Gizmodo, Bloomberg, and MSNBC, Zeff has covered the rise of AI and the Silicon Valley Bank crisis. He is based in San Francisco. When not reporting, he can be found hiking, biking, and exploring the Bay Area’s food scene.
