Elon Musk has sold X in a $33 billion deal to his AI startup company almost three years after buying Twitter and rebranding it. Musk, 53, announced the deal via a statement posted on his X account on Friday, March 28. “The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” Musk wrote.
“Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale.” He continued, “X is the digital town square where more than 600M active users go to find the real-time source of ground truth and, in the last two years, has been transformed into one of the most efficient companies in the world, positioning it to deliver scalable future growth.” Related: Elon Musk's Family Guide: Meet His Children and Their Mothers The news comes more than a year after Musk’s startup created Grok, an AI-powered chatbot similar to ChatGPT.
Musk added it was time to “take the step to combine the data, models, compute, distribution and talent.” In April 2022, the Tesla CEO reached a deal to buy Twitter for about $44 billion. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a press release at the time.
Musk shared his plans for big changes in the press release confirming the purchase. “I also want to make Twitter better than ever by enhancing the.
