Elon Musk’s xAI Acquires Social Media Platform X in $33 Billion Stock Merger

Elon Musk’s artificial intelligence company, xAI, has acquired his social media platform X (formerly Twitter) in a major $33 billion all-stock deal. The merger values xAI at $80 billion and X at $33 billion, aiming to combine xAI’s advanced AI capabilities with X’s vast user base. Musk claims the unified company will offer smarter, more meaningful experiences to billions and accelerate human progress. xAI’s leading product, the AI chatbot Grok, is already available to premium X users. The deal comes amid heightened competition in AI, with xAI bolstering its resources and infrastructure as it challenges rivals like OpenAI, Google Gemini, and Anthropic’s Claude. X is envisioned as the platform to widely distribute xAI’s products and harness real-time user data.

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