Elon Musk's latest move has sent shockwaves through the tech industry. His artificial intelligence startup, xAI, has acquired X, formerly known as Twitter, in an all-stock deal worth $33 billion, excluding debt. This merger forms XAI Holdings, a new entity valued at over $100 billion.
The acquisition is seen as a boon for X investors, who have faced uncertainty since Musk's takeover in 2022. Combining xAI's AI capabilities with X's vast user base unlocks immense growth potential.