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Elon Musk's AI company, xAI, has acquired the social media platform X in a $33 billion all-stock deal, valuing xAI at $80 billion. Musk aims to merge xAI's advanced AI capabilities with X's extensive user base to enhance user experiences and promote human progress. The acquisition follows Musk's previous purchase of X for $44 billion in 2022, and xAI's flagship product, Grok, is already integrated into the platform for premium subscribers.
Elon Musk criticized his government role as detrimental to his companies, claiming it limits his ability to lobby for their interests. He also condemned Minnesota Governor Tim Walz for mocking Tesla's stock decline, labeling him a "jerk" and expressing concern over declining birth rates and America's stability. Musk highlighted recent improvements in government financial tracking systems as lasting changes from the Trump administration's cost-cutting initiatives.
Elon Musk's AI firm xAI has acquired his social media platform X, formerly Twitter, for $33 billion, valuing xAI at $80 billion. Musk stated that merging their capabilities will unlock significant potential, although details of the deal remain unclear. Following his 2022 purchase of Twitter for $44 billion, Musk implemented controversial changes that led to a decline in revenue and advertiser flight.
Elon Musk's xAI has acquired the social media platform X for $33 billion, consolidating his power across multiple ventures. The all-stock deal, which values xAI at $80 billion, aims to enhance the integration of data and AI models, particularly for Musk's Grok chatbot. Despite the merger, details on investor compensation and leadership integration remain unclear, while Musk faces ongoing legal challenges related to his previous Twitter acquisition.
Elon Musk faces a class-action lawsuit from former Twitter shareholders alleging securities fraud for failing to disclose his stock purchases in a timely manner. A judge ruled the case can proceed, noting Musk's actions misled the market and contributed to shareholders selling at "artificially deflated prices." Musk's attorneys claim the late disclosure was an error, while he continues to expand his business ventures, including a merger between xAI and the social network.
Elon Musk's AI company, xAI, has acquired his social media platform X in a $33 billion all-stock deal, which includes $12 billion in debt. This merger aims to combine xAI's advanced AI capabilities with X's extensive user base of approximately 611 million monthly active users, enhancing the platform's ability to foster human progress. Musk, who founded xAI in March 2023, emphasizes the potential of this integration to deliver smarter experiences while remaining committed to truth and knowledge advancement.
Elon Musk announced that his startup xAI has merged with his social media platform X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion. Musk emphasized the merger's potential to combine AI capabilities with X's extensive reach, while xAI's Grok chatbot is already integrated into the platform. This move follows Musk's acquisition of Twitter for $44 billion in 2022 and his ongoing efforts to compete with major AI players like OpenAI and Google.
The U.S. Securities and Exchange Commission (SEC) is onboarding members of Elon Musk's Department of Government Efficiency (DOGE) following a lawsuit against him for failing to disclose his Twitter shares timely. This initiative aims to enhance efficiency and address waste within federal agencies. SEC staff have been instructed to consult a liaison team before sharing information with DOGE members, emphasizing the need for compliance with ethics and security protocols.
Russia has proposed supplying a small-sized nuclear power plant to support Elon Musk's Mars mission, according to Kirill Dmitriev, head of the Russian Direct Investment Fund. He praised Musk as a visionary and expressed expectations for upcoming talks between Russia and Musk regarding this collaboration. Despite ongoing tensions due to the war in Ukraine, cooperation in space continues between Moscow and Washington.
Oman has granted Starlink Muscat a Class 1 license to provide nationwide satellite internet, expanding its services in the Middle East. The low-Earth orbit satellites will deliver high-speed broadband, reaching remote areas and supporting key sectors like oil, gas, and tourism. Starlink plans to launch in Kuwait, Bahrain, and Jordan in 2025, while services in Saudi Arabia and the UAE await regulatory approval.
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Elon Musk's xAI acquires social media platform X in 33 billion deal
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elon musk's xai acquires social media platform x for 33 billion dollars
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elon musk merges xai with x valuing companies at 80 billion and 33 billion
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