Elon Musk has sold X in a $33 billion deal to his AI startup, nearly three years after acquiring and rebranding Twitter.
“The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” Musk wrote. “Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world. It has built models and data centers at an unprecedented speed and scale.”
He continued, “X is the digital town square where more than 600 million active users find real-time information. Over the last two years, it has transformed into one of the most efficient companies in the world, positioning it for scalable future growth.”
Musk’s Journey with X and AI
This news comes more than a year after Musk’s startup xAI launched Grok, an AI-powered chatbot similar to ChatGPT.
Musk stated that now is the right time to “take the step to combine the data, models, compute, distribution, and talent.”
Back in April 2022, the Tesla CEO struck a deal to buy Twitter for about $44 billion.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a press release at the time.
Recent Developments in Musk’s Personal Life
Meanwhile, Musk’s personal life has also seen significant changes. In February, he welcomed his fourth child with Shivon Zilis, bringing his total number of children to 14.
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