From AP.com; Elon Musk sells X to his own xAI for $33 billion in all-stock deal
https://apnews.com/article/x-musk-sale-xai-b245f463076ac9b72c41f92160dc77eb
Elon Musk sells X to his own xAI for $33 billion in all-stock deal
Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday. Both companies are privately held, which means they are not required to disclose their finances to the public. Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” He said the deal values xAI at $80 billion and X at $33 billion. Musk bought the site then called Twitter for $44 billion in 2022. He launched xAI a year later.

