Elon Musk announced on Friday that his AI startup, xAI, has acquired his social media platform, X, in an all-stock transaction valued at $33 billion. Musk stated that the futures of xAI and X are now intertwined, as they combine data, models, compute, distribution, and talent. X recently raised $1 billion from investors, giving it a valuation of $44 billion, which is nearly the same as when Musk took X (formerly Twitter) private in 2022. The deal signifies a significant integration of AI technology with a major social media platform, potentially bringing new capabilities and features to users. Jason Abbruzzese, the assistant managing editor of tech and science at NBC News Digital, and Steve Kopack, a producer covering business and the economy for NBC News, are reporting on this developing story and suggest checking back for updates. This acquisition further highlights Musk’s interest in artificial intelligence and its potential applications across various industries, as well as his continued involvement in the tech and social media sectors.
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