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Musk's xAI buys his X social media platform for $44b
The Straits Times
|March 30, 2025
Mr Elon Musk's xAI artificial intelligence firm has acquired his X, the social media outfit formerly known as Twitter, for US$33 billion (S$44 billion).
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WASHINGTON - Mr Elon Musk's xAI artificial intelligence firm has acquired his X, the social media outfit formerly known as Twitter, for US$33 billion (S$44 billion).
The all-stock deal announced on March 28 consolidates two of Mr Musk's multiple portfolio companies, which also include automaker Tesla and SpaceX, and potentially eases the billionaire's ability to train his AI model known as Grok.
Including US$12 billion in debt, the deal is valued at US$45 billion.
"The choice of US$45 billion is not a coincidence," said D.A. Davidson & Co analyst Gil Luria. "It is US$1 billion higher than the take-private transaction for Twitter in 2022" and he can share the value of the xAI business with Twitter co-investors.
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