Elon Musk’s XAI has acquired the social media platform X, which is earlier on Twitter, which gives importance to the social media platforms in $ 33 billion and allows to share the value of its artificial intelligence firms with its co-directors in the social media company.
The deal can help train your chatbot known as XAI’s grouke.
“The futures of XAI and X are added to each other,” musk, who is the head of the Automaker Tesla and SpaceX, wrote in a post on X, adding: “Today, we officially take steps to combine data, models, calculations, distribution and talent.”
He said that the combination “Xai $ 80 billion and $ 33 billion ($ 45B less $ 12b loans) on XAI”.
Representatives of X and XAI did not immediately respond to the remarks requests. Most of the nuances of the deal are unclear, such as how X leaders will be integrated into the new firm or whether the regulator will be investigated.
The world’s richest person, Musk, is a close aide of US President Donald Trump and heads of the government’s efficiency department.
Saudi Arabia’s investor Prince Alvalad bin Talal, who owns the investment company Kingdom Holding, said he had requested development.
He said that his companies are the second largest investors in X and XA. “After this deal, the value of our investment is expected to arrive between $ 4- $ 5 billion (…) and the meter is running,” he said in a post on X.
DA Davidson analyst Gill Luria said that when the loan was included, the price tag for a $ 45 billion X was not a coincidence. “This is $ 1 billion more than Tech-Private Transactions for Twitter in 2022.”
An investor in XAI, who refused to identify, stated that he was not surprised by the deal, saw it as a musk, consolidating his leadership and management in his companies.
The investor said that Musk did not ask the investors to approval, but told them that the two companies were closely cooperating and the deal would run intensive integration with Groke.
Openi
According to a media report, Musk’s XAI startup was launched less than two years ago and recently raised $ 10 billion in a funding round, which gave the company a price of $ 75 billion.
It competes with Microsoft-supported Openai as well as Chinese Startup Deepsek.
In February, the 53-year-old Musk bid $ 97.4 billion with a consortium for Openi, which was rejected and sued to prevent the chatter manufacturer from converting the cheat manufacturer to a profit-profit business. A judge of this month refused Musk’s request for an initial prohibition that would prevent changes.
As the competition in AI intensifies, XAI is increasing the capacity of its data center to train more advanced models, and its supercomputer cluster in Memphis, Tennessy, called “Colossus”, is called the largest in the world.
XAI introduced the latest repetition Grok-3 of its chatbot in February.
The X platform can work to further distribute XAI products, while users’ music, screenshots and other data also offer the real -time feed.
After purchasing Twitter, Musk affected the company’s workforce, leading to a rapid decline in the advertisers and revenue from the platform. Recently, the brand Trump has been returning to X as the effect of Musk in the administration.
According to a source familiar with the transaction, the $ 13 billion oyster in the loan for Kasturi to buy X maintained a loan on his books, until he maintained a loan on his books for two years.
According to two people familiar with the case, according to other factors, it became possible after an increase in investor interest to come into contact with AI companies with better operating performance of X in the last two quarters.
After the merger, banks will benefit in investors buying loans, Espen Robak, founder of Pluris Valuction Advisors, said, who specializes in Ilyicid assets. “To ensure that the loan is now more value, if not fully paid.”
Separately, an American judge on Friday dismissed a bid by Kasturi to dismiss a case, claiming that he waited for a very long time to reveal the former Twitter shareholders to reveal his initial investment in the company.