March 29, 2025:
Elon Musk Merges xAI and X in $80B Deal - Elon Musk's AI startup, xAI, has acquired social media platform X (formerly Twitter) in an all-stock deal, valuing xAI at $80 billion and X at $33 billion. The merger will see the combined entity operate under xAI Holdings Corp, facilitating easier fundraising. This integration aims to enhance xAI's competitive edge by merging its AI models with X's extensive data resources.
Musk emphasizes the synergy between the companies, highlighting X's data and user base as strategic advantages for xAI's growth. This move positions xAI more favorably against competitors like OpenAI, bolstering its influence in the AI industry through expanded resources and capabilities.
