Elon Musk Sells X to Elon Musk’s AI Company at $33 Billion Valuation, Mogul Says
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variety.comTodd Spangler NY Digital Editor Wait — Elon Musk just sold X, the social network formerly known as Twitter, to himself? Well, kind of.
Musk, in a post on X Friday, said that his artificial-intelligence company, xAI, has acquired X in an all-stock transaction that values X at $33 billion ($45 billion minus $12 billion in debt).
The deal gives xAI a valuation of $80 billion, Musk claimed. Musk acquired Twitter in October 2022 for $44 billion and took the company private.
What’s going on here? With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company (some of which they share).
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