by Elon Musk sold the social media website X to its own XAI company for artificial intelligence in an all-standard deal of $ 33 billion (£ 25.5 billion), the billionaire said.
Both companies are kept privately, which means that they are not obliged to pass on their finances to the public.
Mr. Musk said in a post to X that the move “will exploit immense potential by mixing up advanced AI skills and knowledge with the massive range of X”.
He said that the deal estimates Xai with $ 80 billion (£ 61.8 billion) and X at $ 33 billion.
Mr. Musk, who acts as managing director of Tesla and SpaceX and as a consultant of President Donald Trump, bought the website in 2022 twitter for $ 44 billion (£ 34).
He started Xai a year later.
“The futures of Xai and X are intertwined. Today we officially take the step to combine data, models, calculation, distribution and talent. This combination will exhaust an immense potential by mixing Xais advanced AI ability and competence with XS massive reach,” wrote Musk about X.
“The combined company will offer billions of people of people more intelligent, more significant experiences and at the same time to search for our core mission to search for truth and to promote knowledge.”
