Elon Musk has announced the acquisition of the X platform (previously known as Twitter) by his AI startup company, xAI, at a valuation of $33 billion.
Launched in 2023, xAI has emerged as one of the leading AI labs, known for developing advanced models and establishing data centers at an extraordinary pace and scale. xAI, founded by Elon Musk, focuses on enhancing AI’s capabilities while elevating human understanding.
Elon Musk Founder – xAI
“X is the digital town square where more than 600M active users go to find the real-time source of ground truth and, in the last two years, has been transformed into one of the most efficient companies in the world, positioning it to deliver scalable future growth. 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. 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. This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.”
In 2022, Musk acquired Twitter for $44 billion, using debt to fund the deal. After the acquisition, the billionaire downsized workforce, changed content moderation policy, launched cutting-edge features, reinstated some banned accounts, and rebranded Twitter as “X”.
In 2023, xAI developed Grok, a cutting-edge AI chatbot seamlessly integrated into the X platform. The chatbot offers engaging and insightful conservations. Recently, ‘Grok 3’ – the latest model was launched with enhanced reasoning, coding, mathematics, and general knowledge capabilities.
