Elon Musk said on Friday that her artificial intelligence startup XAI is buying its social networking platform X in a deal, which was once known as Twitter to the company, which was $ 33 billion. Musk said in a post on its social network, “This combination will unlock the immense capacity by combining the advanced AI capacity of XAI and specialization of XAI.”
The X has more than 600 million users, and its future is “interesting” with XAI launched two years ago, which was launched two years ago.
“Today, we officially take steps to combine data, models, calculations, distribution and talent,” Musk said about the combination of two companies. “This will allow us to create a platform that does not just reflect the world, but actively accelerate human progress.”
Companies are being added to an all-stock deal, which gives importance to XAI to $ 80 billion and X for $ 33 billion, which is a factoring in a $ 12 billion loan of the social network.
Musk bought Twitter for $ 44 billion in a transaction at the end of 2022, which included debt and launched XAI next year, spent billions of dollars on a high end NVidia chips for the enterprise.
XAI released the latest version of its chatbot, Groke 3 in February, which will be traditional in the high competitive sector than the hopes of the billionaire and the choice of Deepsek in China.
Musk has promoted Groke 3 as “scary smart”, with 10 times the computational resources of its predecessor which was released in August last year. Groke 3 is also going against Openi’s chatbot, chatgate-patting Kasturi against a partner-turn-arc rival Sam Altman.
Musk and Altman were one of the 11-people teams, who founded Openai in 2015. Artificial Intelligence was created as a counterweight for Google’s dominance, the project received early money from Musk.
Musk left after three years, and then in 2022, the release of Openai’s Chatgate created a global technology sensation – which made Altman a technical world star. Their relationship has become toxic and litigation since then.
X billionaire owner, the world’s richest person, US President Donald Trump has a major financial support and is the head of the Department of Government Efficiency that is reducing the rank of government employees.
Industry analysts in Emarketer said that advertising revenue in X will increase this year as brands are afraid of retaliation by politically associated Kasturi if they do not spend on stage.
“Many advertisers can spend on X as the cost of trading to reduce potential legal or financial results,” said the principal analyst of the buildingcator Jasmine Enbberg.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)