Elon Musk’s artificial intelligence group xAI has purchased social media platform X for $45bn, as the billionaire entrepreneur brings together two of his flagship businesses.
“xAI and X’s futures are intertwined,” Musk said on Friday evening, adding that he would be combining the data, models, computing power, distribution and talent of the two companies.
Musk said the all-stock deal valued xAI at $80bn, although he did not offer specifics about the nature of the transaction. xAI obtained a valuation of $45bn in a $5bn private funding round late last year.
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