Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday.
Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” He said the deal values xAI at $80 billion and X at $33 billion. Musk, who serves as CEO of Tesla and SpaceX as well as an advisor to President Donald Trump, bought the site then called Twitter for $44 billion in 2022, gutted its staff and changed its policies on hate speech, misinformation and user verification and renamed it X.
He launched xAI a year later.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” Musk wrote on X. “The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge.”
It’s not clear if the move will change anything for X users — xAI already uses data from X user posts to train its artificial intelligence models and paying X users have access to its AI chatbot, Grok.
This is the equivalent to maxing out a credit card, then getting a second credit card to pay off the first credit card.
Well perhaps he’ll have a slight inkling of how the poors are getting by before homelessness and starvation.
It would be more appreciated if Elon experienced homelessness and desperation himself.
The greatest revenge would be to simply take his money and ban him from working any jobs that pay more than minimum wage.
