#XAI American billionaire Elon Musk announced on Friday that his company xAI had acquired X, formerly known as Twitter, in a $33 billion equity deal, valuing the company at $45 billion, including $12 billion in debt.
"The future of xAI and X is interconnected. Today, we're officially taking the step of integrating data, models, computing, distribution, and talent," Musk said in a post on X, adding that the combined company will be valued at $80 billion.
Read also: Musk's xAI unveils 'Grok 3' AI model, claims superiority over competitors
Sources told Reuters that the billionaire's AI startup, which launched in 2023, recently raised $6 billion from investors, at a valuation of $40 billion.
The CEO of Tesla and SpaceX acquired Twitter in a deal valued at approximately $44 billion in late 2022, which included massive cost reductions, and quickly renamed it X.
Musk launched xAI less than two years ago with the stated goal of "understanding the true nature of the universe."
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