Elon Musk says xAI has bought X in offer that values social media website online at $33 billion

Elon Musk mentioned on Friday that his startup xAI has merged with X, his social community, in an all-stock transaction that values the unreal insigt corporate at $80 billion and the social media corporate at $33 billion.

“xAI and X’s futures are intertwined,” Musk, the arena’s richest individual, wrote in a publish on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”

He added that the merger would, “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

The Tesla and SpaceX CEO bought Twitter in a offer valued round $44 billion in overdue 2022 imposing large value cuts and shortly renaming it X.

Musk introduced xAI lower than two years in the past with a said objective to “understand the true nature of the universe.” The startup has been seeking to compete without delay with OpenAI, the richly valued AI startup that Musk co-founded in 2015 as a non-profit analysis lab. He next left OpenAI and has lately been keen on a people members of the family and prison spat with the corporate and CEO Sam Altman over the path that it’s taken.

At xAI, Musk’s workforce has been creating massive language fashions and AI tool merchandise, taking over choices from OpenAI in addition to Google, Microsoft, Meta and others. X and xAI have already been intertwined, with xAI’s Grok chatbot to be had to customers of the social media app.

WATCH: X acquires xAI