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Elon Musk's Artificial Intelligence Group XAI has purchased the X -Social Media Platform for $ 45 billion because the billionaire combines two of its flagship.
“Futures Xai and X are connected,” Musk He said on Friday evening and added that he would combine data, models, computing, distribution and talent of both companies.
Musk said that an agreement on all stocks is appreciated Xai for $ 80 billion. He did not publish the specifics of how the agreement was structured. At the end of last year, XAI won $ 45 billion in a private round of $ 5 billion.
An agreement announced on Friday, which includes $ 12 billion in debt, the value x slightly above the price of $ 44 billion that Musk paid for the company in October 2022, and comes after a $ 1bn fundraising bike this month.
He emphasizes the Fortunes Pro X, which after Musk's takeover failed when advertisers pulled their expenses from the platform and quoted concerns about his hands-off access to moderation.
The seven -bank group on Wall Street also sold almost all $ 12.5 billion loans that Musk used to finance Twitter, which he later renamed X, in 2022.
The creditors were saddled with the debt, while Musk tried to turn operations X because investors of stock investors reworked their shares in the platform for dramatic discounts.
Investors' interest in loans improved in weeks after the election victory of Donald Trump in November, due to the proximity of a billionaire to the new administration as a confidant of the President and the head of the so -called Ministry of Government effectiveness of the intention of reducing government bureaucracy.
X investors include Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital and Fidelity Investments. Sequoia, Andreessen Horowitz and Fidelity are also investors in XAI.
Last year, Musk provided investors who supported its Twitter acquisition of 25 % of XAI shares, which helped increase the value of social media platform. It was not clear how this setting would be taken into account by Friday's Agreement.
The person who is familiar with the agreement stated that it was partially created to help Muska to create a value for her privately held businesses. They added that the main external investors of Musk supported the transaction that was in the works of the Moon and expected to provide more clarity of how both groups work in Tandem.
Musk started his start-up XAI in 2023 to “understand the true nature of the universe” and question the dominance of Altman Open. Since then he has launched his own chatbot, Grok, and increases the expansion of the data center with the COLOSSUS supercomputer.
“This combination unlocks the huge potential by mixing the advanced AI XAI capabilities with a massive x reach of X,” Musk said on Friday on custody X. “This will allow us to build a platform that does not only reflect the world but actively speeds up human progress.”
Already, the X X data that Musk said has more than 600 MN active users are used for GROK training. On the other hand, more sophisticated GROK functions are offered to pay premium subscribers X.
James Fontanella-Khan's other reports in New York
