Billionaire Elon Musk merges xAI and X in $33 billion deal

Billionaire Elon Musk announced on March 28 that he had merged his artificial intelligence company xAI with social networking platform X (which he also owns) in an all-stock transaction with a total value of $33 billion.

This deal not only marks a new turning point in Mr. Musk's ambition to develop artificial intelligence (AI), but also affirms the close connection between data and AI technology.

In an announcement on the X platform, billionaire Elon Musk emphasized: "The future of xAI and X is closely intertwined. Today, we officially take the step of combining data, models, compute, distribution and talent."

The deal values ​​xAI at $80 billion and X at $33 billion (after subtracting the $12 billion debt from the previous Twitter/X acquisition).

This is a strategic move, allowing the two companies to leverage each other's strengths.

According to Mr. Musk, this merger will "unlock enormous potential by combining xAI's advanced AI capabilities with X's massive reach," thereby bringing smarter, more meaningful experiences to billions of users.

Billionaire Elon Musk acquired Twitter (now X) in late 2022 for $44 billion. He then founded xAI in 2023 with the goal of "understanding the true nature of the universe."

The xAI company has developed large language models and launched the Grok chatbot, which is now available on X for paid users.

The merger is not just a financial event, but also a strategic step for Musk in the fierce AI race.

Currently, xAI, with its chatbot product Grok-3, is quickly asserting its position, competing directly with DeepSeek and OpenAI.

In addition, xAI's Colossus supercomputer in Memphis, Tennessee (USA) - known as the world's largest supercomputer cluster, is also a testament to billionaire Elon Musk's ambition to dominate the AI ​​field./.

(Vietnam+)

Source: https://www.vietnamplus.vn/ty-phu-elon-musk-hop-nhat-xai-va-x-trong-thuong-vu-33-ty-usd-post1023478.vnp