Elon Musk sold the social network X to his company xAI for $33 billion
Kyiv • UNN
Elon Musk sold the social network X to xAI for $45 billion. The deal values X at $33 billion, less than Musk paid in 2022.
American billionaire Elon Musk, who currently heads the US Department of Public Efficiency (DOGE), has announced the sale of his social network X (Twitter) to artificial intelligence company xAI. The deal amounted to $45 billion. This is reported by CNN with reference to Elon Musk's X-account, reports UNN.
Details
It is noted that according to the agreement, the social network X is valued at $33 billion, which is much less than he paid for it in 2022.
xAI and X futures are intertwined. Today, we are officially taking a step to combine data, models, computing, distribution and talent. This combination will unlock enormous potential by combining xAI's advanced artificial intelligence capabilities and experience with X's vast reach.
The billionaire did not write about any immediate changes to X, although xAI's Grok chatbot is already integrated into the platform. According to him, the combined platform will "provide smarter, more meaningful experiences."
After acquiring the social network in 2022, Musk made a number of changes to the platform, once known as Twitter, that prompted some major advertisers to leave. He also fired 80% of the company's staff, changed the platform's verification system, and more.
Recall
In 2022, American billionaire and founder of SpaceX Elon Musk published a letter to advertisers on his Twitter page, in which he confirmed that he had finally bought Twitter. In the letter, Musk noted that he wants to have a digital platform for discussing a wide range of opinions.
