Xai of Elon Musk buys social media platform X for $ 45B: ‘Future is intertwined’

Elon Musk made a friend announcement on Friday that his artificial intelligence venture Xai has won his X Social Media platform in a comprehensive $ 45 billion transaction-a billion more than Mogul paid for the site in 2022.

“The combination estimates Xai with $ 80 billion and X with $ 33 billion,” Musk discovered in a statement posted on X – previously known as Twitter.

Musk, the world’s richest man with a net worth estimated at $ 330 billion, said the deal included $ 12 billion in debt – which increases the overall estimation of X to $ 45 billion.

The Director General of Tesla and Spacex highlighted the strategic importance of this union, saying: “The future of Xai and X are intertwined.”

“Today, we officially take the step to combine data, models, calculate, distribution and talent,” he wrote.
“This combination will unlock a great potential by mixing the advanced ability and expertise of that of XAI with the massive extension of X.”

X -General Director Linda Yaccarino echoed Musk’s optimism about the deal, posting, “The future could not be brighter.”

Musk is expected to form a new X and XAI holding company in Texas, according to Wall Street Journal. There will be no change in control of existing X debt, the Outlet sources told.

He earned Twitter for $ 44 billion in late 2022, making a considerable debt.

Since then, it has reduced its work power, modified user features, has restored previously prohibited accounts and re -raised the site.

The union is expected to significantly strengthen the competitive advantage of XAI, especially with the integration of Grok, XAI chatbot.

Grok is positioned to compete directly with the top players in the field, especially Openai, a Musk company co-founded as a nonprofit, but later left behind disputes.

“It helps integrate the system quite beautifully,” noted Wolfe Research Shweta Khajuria analyst.
“This gives Grok a unique advantage” because of its expanded access to large data.

She further emphasized the strategic ability that this movement offers XAI, allowing it to manage or even limit data entry into competitive firms.

The purchase announcement follows February reports that Musk was actively exploring investors’ interest in a round of funding XAI aiming at a estimate of about $ 75 billion.

Prominent investment firms such as Sequoia Capital, Andreessen Horowitz, Fidelity and Blackrock investments have previously supported the beginning of it.

“Since its founding two years ago, Xai has quickly become one of the leading laboratories in the world, building models and data centers at unprecedented speed and staircase,” Musk wrote.

On the other hand, Musk emphasized that the X has also undergone a profound change, noting that “it has become one of the most efficient companies in the world, positioning it to give a scaled growth in the future.”

Recently, X raised nearly $ 1 billion in fresh capital, approximating its appreciation close to the original Musk purchase price in 2022.

Moreover, the platform is on the right track for the first year of increasing advertising revenue since musk intake.

According to the Emarketer research firm, X is projected to reach $ 1.31 billion in US advertising sales in 2025, marking a 17.5%increase.

Global advertising revenue for X is projected to reach $ 2.26 billion this year, reflecting a 16.5%increase.