Musk’s “digital town square” is likely to become even more powerful.
Elon Musk, said to be the wealthiest man on Earth, announced the sale of his social media platform in a Friday evening post on X. In an all-stock transaction, Musk sold the enterprise to xAI – another one of his companies – for $45 billion minus its $12 billion debt. This move puts the value of X at $33 billion.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk’s post read, in part. “This combination will unlock immense potential by blending xAI’s advanced AI (artificial intelligence) capability and expertise with X’s massive reach. The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core…
