Elon MuskĀ announced Friday that he sold social media siteĀ XĀ in a $33 billion all-stock deal to his own AI startup company, xAI
The tech billionaire shared the news inĀ a statement posted on X, writing, āxAI and Xās futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.ā
Both X and xAI are privately held, which means they are not required to disclose their finances to the public. The Tesla and SpaceX CEO said the deal values xAI at $80 billion and X at $33 billion. Itās not clear if the sale will change anything for X users ā xAI already uses data from X user posts to train its artificial intelligence models and paying X users have access to its AI chatbot, Grok.
Musk is also the CEO and largest shareholder of Tesla, and the CEO of the space company (and burgeoning telecom giant) SpaceX. It is not immediately clear what the deal means for Xās consumer-facing product, or for staff there like X CEO Linda Yaccarino, who is a veteran of the TV business.