New Delhi: Elon Musk has revealed that his AI company, xAI has taken over social media giant X (formerly Twitter) in a 33 billion dollars all-stock deal.The move, announced on March 28 aims to merge xAI’s cutting-edge artificial intelligence with X’s vast user base, paving the way for new innovations.
xAI-X Merger: What You Need to Know
Elon Musk’s AI company, xAI, has officially merged with X (formerly Twitter) in an all-stock deal, meaning no cash was involved. While both companies are privately owned and not required to share financial details. Musk confirmed that xAI is valued at 80 billion dollars and X at 33 billion dollars.
According to Musk, this merger will combine their data, AI models, computing power, and top talent to create smarter, more meaningful user experiences. The goal is to enhance innovation while staying focused on the mission of seeking truth and spreading knowledge.
Elon Musk to Resign from DOGE Leadership
The merger news comes just hours after Elon Musk revealed that he will step down from his role in the Department of Government Efficiency (DOGE) at the end of May. During his 130-day term, Musk led efforts to cut government costs, achieving a massive 1 trillion dollars reduction in the US deficit. Appointed as a “special government employee” under President Donald Trump’s administration, he played a key role in streamlining spending.
Elon Musk is making big moves in the AI industry, a key priority for both the Trump administration and the tech world, according to CNN. Earlier this year, he led a group of investors in a nearly 100 billion dollars bid to buy OpenAI, the company behind ChatGPT. This attempt marked another chapter in his ongoing rivalry with OpenAI CEO Sam Altman.