Elon Musk Sells X For $33 Billion: But Who’s The Buyer?

Elon Musk’s artificial intelligence company, xAI, has created a lot of buzz by taking over X, (formerly known as Twitter), in an all-stock deal valued at $33 billion. This strategic acquisition merges two of Musk’s entities and strengthens xAI’s position in the rapidly evolving AI landscape.

Musk, on Friday, confirmed the sale of X to xAI and underscored the potential synergies that can be derived between the social media platform and the AI firm. 

“The integration of xAI’s cutting-edge artificial intelligence capabilities with X’s vast reach will unlock immense potential,” Musk stated in a post on X.

What is xAI?

xAI is a U.S.-based artificial intelligence company founded by Musk in March 2023 with the ultimate objective of exploring the “true nature of the universe.” Officially launched in July 2023, xAI started with a team of AI experts, including former researchers from OpenAI, Google DeepMind, and Tesla.

“Our approach to rapid development allows us to solve real-world problems, not just innovate for the sake of speed,” states xAI’s official website.

What does the future of xAI and X look like?

Musk envisions a deeply integrated future for xAI and X, leveraging their combined data, computing power, and talent pool. One of the xAI’s prominent introductions is the AI chatbot Grok, which was rolled out in November 2023 and later integrated into X.