Musk's xAI buys social media platform X for $45 billion (www.reuters.com)

submitted 4 months ago by misk@sopuli.xyz to c/technology@beehaw.org

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Archive: https://ghostarchive.org/archive/z7vik

March 28 (Reuters) - Elon Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion debt.

"xAI and X's futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said in a post on X, adding that the combined company would be valued at $80 billion.

Neither X nor xAI immediately responded to a request for comment.

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[-] Moonrise2473@feddit.it 8 points 4 months ago

Now I understood why a few weeks ago it was said that xitter was back to the old ultra overvalued valuation even with less revenue and less users. Because he found some other idiots to pay for it hoping to hit big when and if does an IPO

this post was submitted on 28 Mar 2025

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