Close Menu
Global News HQ
    What's Hot

    3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool

    June 9, 2025

    The best gaming mouse in 2025

    June 9, 2025

    Adam Lippes Resort 2026 Collection

    June 9, 2025
    Recent Posts
    • 3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool
    • The best gaming mouse in 2025
    • Adam Lippes Resort 2026 Collection
    • Xbox ROG Ally, the Xbox Handheld is Real and I Played It – Video
    • Federal agents clash with anti-deportation protesters in LA
    Facebook X (Twitter) Instagram YouTube TikTok
    Trending
    • 3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool
    • The best gaming mouse in 2025
    • Adam Lippes Resort 2026 Collection
    • Xbox ROG Ally, the Xbox Handheld is Real and I Played It – Video
    • Federal agents clash with anti-deportation protesters in LA
    • These ‘Ugly’ Solar Lights Will Instantly Transform the Vibes of Your Backyard—and They’re Just $30
    • Morocco Arrests Mastermind Behind Recent French Crypto-Related Kidnappings
    • Xbox Games Showcase 2025: all the news and trailers
    Global News HQ
    • Technology & Gadgets
    • Travel & Tourism (Luxury)
    • Health & Wellness (Specialized)
    • Home Improvement & Remodeling
    • Luxury Goods & Services
    • Home
    • Finance & Investment
    • Insurance
    • Legal
    • Real Estate
    • More
      • Cryptocurrency & Blockchain
      • E-commerce & Retail
      • Business & Entrepreneurship
      • Automotive (Car Deals & Maintenance)
    Global News HQ
    Home - Finance & Investment - Elon Musk’s artificial intelligence group buys X for $45bn
    Finance & Investment

    Elon Musk’s artificial intelligence group buys X for $45bn

    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Elon Musk’s artificial intelligence group buys X for bn
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Unlock the Editor’s Digest for free

    Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

    Elon Musk’s artificial intelligence group xAI has purchased social media platform X for $45bn, as the billionaire entrepreneur brings together two of his flagship businesses.  

    “xAI and X’s futures are intertwined,” Musk said on Friday evening, adding that he would be combining the data, models, computing power, distribution and talent of the two companies. 

    Musk said the all-stock deal valued xAI at $80bn, although he did not offer specifics about the nature of the transaction. xAI obtained a valuation of $45bn in a $5bn private funding round late last year.

    The deal announced on Friday, which includes $12bn in debt, values X slightly above the $44bn price that Musk paid to take the company private in October 2022 and comes after a $1bn fundraising round this month.

    It highlights the rebound in fortunes for X, which slumped following Musk’s takeover as advertisers pulled their spending from the platform citing concerns over his hands-off approach to moderation.

    A group of seven Wall Street banks have also sold almost all the $12.5bn of loans Musk used to finance his takeover of Twitter in 2022.

    The lenders had been saddled with the debt while Musk sought to turn around X’s operations as equity investors repriced their stakes in the platform at dramatic discounts.

    Investor interest in the loans improved in the weeks following Donald Trump’s election victory in November, given the billionaire’s proximity to the new administration as a confidant to the president and the head of the so-called Department of Government Efficiency intent on cutting government red tape.

    Investors in X include Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital and Fidelity Investments. Sequoia, Andreessen Horowitz and Fidelity are also investors in xAI.

    Recommended

    Musk launched his start-up xAI in 2023 to “understand the true nature of the universe” and challenge the dominance of Sam Altman’s OpenAI. Since then, it has launched its own chatbot, Grok, and been increasing its data centre expansion with its Colossus supercomputer cluster.

    “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” Musk said on Friday of the X tie-up. “This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.” 

    Already, data from X, which Musk said has more than 600mn active users, has been used to train Grok. In turn, more sophisticated Grok features are offered to paying premium subscribers of X.

    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous Article‘Zombie’ Rule: SEC’s Climate Disclosure Regulation Likely Doomed After Legal Retreat
    Next Article Zhao pledges BNB for Thailand, Myanmar disaster relief

    Related Posts

    3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool

    June 9, 2025

    Federal agents clash with anti-deportation protesters in LA

    June 9, 2025

    Catching Falling Knives? Smart Strategies for Buying Stocks in a Downturn. | The Motley Fool

    June 9, 2025

    Ten Cheapest Places to Live in Texas

    June 8, 2025
    Leave A Reply Cancel Reply

    ads
    Don't Miss
    Finance & Investment
    5 Mins Read

    3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool

    The energy industry can be pretty volatile. Take crude oil prices this year, for example.…

    The best gaming mouse in 2025

    June 9, 2025

    Adam Lippes Resort 2026 Collection

    June 9, 2025

    Xbox ROG Ally, the Xbox Handheld is Real and I Played It – Video

    June 9, 2025
    Top
    Finance & Investment
    5 Mins Read

    3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool

    The energy industry can be pretty volatile. Take crude oil prices this year, for example.…

    The best gaming mouse in 2025

    June 9, 2025

    Adam Lippes Resort 2026 Collection

    June 9, 2025
    Our Picks
    Finance & Investment
    5 Mins Read

    3 Top Energy Stocks to Buy Without Hesitation in June | The Motley Fool

    The energy industry can be pretty volatile. Take crude oil prices this year, for example.…

    Technology & Gadgets
    44 Mins Read

    The best gaming mouse in 2025

    No gaming mouse will magically stop you from getting destroyed in Counter-Strike or Call of…

    Pages
    • About Us
    • Contact Us
    • Disclaimer
    • Homepage
    • Privacy Policy
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    © 2025 Global News HQ .

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version