Up
Elon Musk said on Friday that his artificial intelligence startup, XAI, had acquired his social media platform, X, for $ 33 billion in an All-Stock transaction.
Musk announced the acquisition on Friday evening. (Photo of the Emin Sansar / Anadolu agency via Getty … More
Key facts
Musk announced the agreement in an article on Friday, saying that it assessed XAI at $ 80 billion and X at 33 billion dollars, or $ 45 billion if the $ 12 billion in the social network are included.
Musk, who bought X for $ 44 billion in 2022, when he was known as Twitter, said the acquisition involves the combination of “data, models, models, calculation, distribution and talent” of XAI and X.
The two companies belonging to MUSC already have a lot of overlap, with the Chatbot AI of X, Grok, developed by XAI, and all the members of XAI staff being XA employees, at least on paper, according to The Verge.
An evaluation of $ 80 billion for XAI places it a little closer to the company AI Company Openai, which is currently estimated at $ 157 billion and is about to finalize a financing cycle led by SoftBank which will increase its valuation to $ 300 billion, according to Bloomberg.
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Forbes assessment
We estimate the net value of Musk at 342.9 billion dollars, making him the richest person in the world and placing him well in advance on the new values of the co-founder of Amazon, Jeff Bezos and the Meta-PDG Mark Zuckerberg, which represent $ 209.2 billion and $ 199.5 billion, respectively.
Key
Musk revised the Twitter brand after buying it for $ 44 billion about three years ago, reversing the X platform, introducing changes to its policies and features and by reducing 80% of the company’s workforce. A year after Musk’s takeover, X suffered from an exodus of the advertiser and a massive reduction in value, its valuation falling to $ 16.9 billion. The flight of advertisers was launched after Musk approved an anti-Semitic tweet, then said that advertisers who “blackmail” with money should “go themselves”. Since then, Musk has become one of the biggest donors of President Donald Trump and the closest advisers, using the social platform to stimulate his policy increasingly right. X is about to record its first year of advertising revenue growth since Musk bought the platform and is scheduled to generate $ 1.3 billion in American advertising sales this year, Bloomberg reported, citing the Emarketer research company.
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