“Musk Transfers Ownership of X to AI Venture xAI”
Elon Musk announced on Friday that he has sold the social media platform X (formerly known as Twitter) to his artificial intelligence company, xAI, in an all-stock transaction valued at $33 billion. The move formally aligns Musk’s social media and AI ventures under one umbrella, with Musk emphasizing the strategic integration of both platforms’ capabilities.
Both X and xAI are privately held companies and are not required to publicly disclose financial statements. According to Musk, the transaction values xAI at $80 billion and aims to combine the reach of the X platform with the advanced AI models developed by xAI.
“xAI and X’s futures are intertwined,” Musk stated in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”
Musk acquired Twitter in 2022 for $44 billion, subsequently implementing sweeping changes to staffing, content moderation, and platform verification policies. He rebranded the platform as X in 2023, positioning it as an “everything app” that would integrate social media, payments, and AI capabilities. xAI, launched a year after Musk’s acquisition of Twitter, is focused on developing artificial intelligence models that compete with other major players in the space.
Currently, xAI leverages data from X posts to train its models, and its chatbot, Grok, is available to both paying and nonpaying X users—though access is limited for users on the free tier. The full implications of the ownership change for X users remain unclear, but integration between the two platforms had already been underway prior to the announcement.
The transaction underscores Musk’s ongoing effort to consolidate his technology ventures and leverage cross-platform synergies in social media, AI, and data-driven services.
Rewritten from an article originally posted here.
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