Billionaire Elon Musk 'buys' social network X again

Billionaire Elon Musk announced that he has sold his social networking company X to his artificial intelligence company xAI for $45 billion.

In an article on X on March 28, billionaire Elon Musk announced that X was sold to xAI for a valuation of $33 billion and $12 billion in debt. "The future of xAI and X is intertwined. Today, we are officially taking this step to combine data, models, compute, distribution, and talent. This combination will unlock enormous potential by blending xAI's advanced AI capabilities and expertise with X's massive reach," Musk wrote.

The X is selling for slightly more than Elon Musk bought it for in 2022.

In 2022, Mr. Musk bought the social network Twitter for $44 billion and then renamed it X. xAI's Grok interaction model has been integrated into X in recent times. Mr. Musk believes that X, after combining with xAI, will bring a smarter platform and more meaningful experiences. He values ​​the combined company at $80 billion.

Since buying Twitter, Mr. Musk has laid off 80% of his employees, changed the identity verification system and restored many previously suspended accounts.

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According to CNN, the value of X has recently gradually recovered. Investment firm Fifelity estimated in October 2024 that X was worth only about 20% of what it was when Mr. Musk bought it. However, by December 2024, the value had increased to about 30% of what it was when Mr. Musk bought it.

The acquisition of X could help xAI launch AI models and features to the public faster. xAI is a startup founded by Elon Musk about 2 years ago, recently successfully raised $6 billion in capital at a valuation of $40 billion, according to Reuters. In February, xAI launched the Grok-3 model to compete with models from DeepSeek (China) and OpenAI (USA).

Elon Musk is the richest man in the world. In addition to the two companies mentioned above, he also heads the electric car company Tesla, the space technology company SpaceX and is an advisor to US President Donald Trump.

Source: https://thanhnien.vn/ti-phu-elon-musk-mua-mang-xa-hoi-x-them-lan-nua-185250329073539563.htm