Alon’s own -owned X, formerly called Twitter, has been purchased by AI company Zai.
The announcement came from Kasturi by a post on his X account, which revealed that XAI acquired an all-stock transaction by XAI, valued at Billion $ 80 billion and $ 33 billion (B45B at least $ 12B debt).
X, then Twitter, was purchased by Kasturi for about $ 44 billion in 2022 and is tired of disputes for various reasons. With its acquisition by XAI, Musk said that this combination of X and XAI, whose “futures are interconnected,” will make the immense prospect by mixing the skills with the advanced AI capacity and wide access to Xai.
Here is a complete post by musk:
XAI has achieved x in an all-stock transaction. Combination XAI values Billion at 80 billion and X Billion $ 33 billion (B 45b at least $ 12B debt).
Since it was founded two years ago, Zai has quickly become one of the world’s leading AI labs, creating models and data centers on unprecedented pace and scale.
X is a digital town square where more than 600 active users go to find a real-time source of land truth and in the last two years, the scalable has been transformed into the world’s most efficient companies, keeping it in place to deliver future growth.
The futures of Zai and X are interconnected. Today, we officially take steps to combine data, models, calculations, distribution and talent. This combination will unlely LOCK to the immense probability by mixing skills with the advanced AI capacity of XAI and a wide reach of X. The joint company will deliver billions of smarter, more meaningful experiences while the search for the truth and moving forward will be true to our main mission. This will allow us to create a platform that not only reflects the world but also actively accelerates human progress.
I would like to identify everyone’s hardcore dedication on XAI and x who has brought us to this issue. This is just the beginning.
Thank you for your constant partnership and support.
