Elon Musk’s XAI start-up bought X, already held by the American businessman. This operation, which aims to develop AI on the social network, values the platform at more than $ 30 billion. © Stefani Reynolds/Bloomberg – The billionaire Elon Musk is the boss of the social network X. Save save Receive the Elon Musk alerts a surprising buyout. Elon Musk has announced that its generative artificial intelligence start-up, XAI, had acquired X, its social network, “within the framework of a transaction entirely in shares”, which values the platform at 33 billion outdoor dollars. “The Avenirs of Xai and X are intimately linked,” he said in a message on X, this Friday, March 28. The boss of Tesla and SpaceX had bought Twitter at the end of 2022 for $ 44 billion and used the social network in particular to campaign for Donald Trump. According to the billionaire, combining data, AI models, IT and human resources of the two companies will allow the new entity to offer “smarter and more profitable services”. He believes that to focus “XAI’s capacities and expertise in advanced AI within the massive reach of X” will “release the immense potential” from the company. The richest man in the world has concluded his message on X by affirming that the merger of his two companies will allow “to build a platform which is not content to reflect the world, but which actively accelerates human progress”. A valuation of $ 80 billion for Xaiplus of 600 million users use X, he said, without giving frequency. The operation “values XAI at 80 billion dollars and X at 33 billion dollars (45 billion minus $ 12 billion in debts),” he said. The entrepreneur founded XAI in 2023, in reaction to the success of Chatgpt, the pioneer of the generative AI launched at the end of 2022 by Openai, a start-up which he had helped to found before cutting the bridges with the other founders. XAI developed his own chatbot, Grok, which has the advantage of being fueled by all the conversations on X. humor. On the social network Twitter, renamed X, Elon Musk authorized hateful remarks and disinformation in the name of freedom of expression, making flee some of the worries of the context in which their messages appear. Receive our latest news each morning, the information to be remembered on the financial markets. (tagstotranslate) Elon Musk (T) Artificial Intelligence (T) Twitter
