Billionaire Illon Musk said that Xai Artificial Intelligence has acquired a 33 billion dollars, which represents a sudden development of the social network previously known as Twitter.
“The mixture is estimated at 80 billion dollars and X at $ 33 billion,” he wrote at a X Post on Friday. He said that the value X is $ 45 billion when it guarantees $ 12 billion in debt. It was the deal of all stocks.
He said: “The future of Xai and X is overlapping.” “Today, we take the step officially to combine data, models, account, distribution and talent. This mixture will open enormous potential by mixing the advanced artificial intelligence capacity of Xai with access to the enormous X.”
Musk, the richest person in the world, acquired Twitter for $ 44 billion in 2022, a deal that included debt. After controlling the platform, he cut jobs, renewed features and allowed some banned accounts to return.
Read more:Musk closes $ 44 billion on Twitter, and senior executives staff
It has also been used to promote Grok, which is the Chatbot that Xai developed. The start starting with artificial intelligence companies such as Openai, which Musk participated in establishing before a sharp division with that company.
“This helps to integrate the system very well,” said Shuwta Khajuria, a Wolf research analyst who sees the deal as a positive for both musk companies. “This gives Grok a unique advantage” by providing access to huge amounts of training data while also allowing Xai to control – or even cut – data flow to other companies.
Musk had previously collected potential investors for the Xai financing round to evaluate about 75 billion dollars, Bloomberg NewsI mentionedIn February. The Xai Sequoia Capital, Andressen Horowitz, Fedelity Investments and Blackrock Inc.
“Since its foundation two years ago, XAI quickly has become one of the world’s leading AI laboratories, the construction of models and data centers quickly and unprecedented size,” Musk said in the post.
Meanwhile, “I have turned into one of the most efficient companies in the world, which put it in a developmental future growth mode.”
The social network raised nearly a billion dollars of new stocks of investors, BloombergI mentioned this monthIn a deal that gave the company an evaluation in line with when taking a special Musk in 2022.
The company is also running in a rapid pace in its first year of advertising revenue growth since the acquisition of musk. The company is expected to generate $ 1.31 billion in US advertising sales in 2025, an increase of 17.5 %, according to EMARKETER Research. Globally, X’s advertising sales are estimated at $ 2.26 billion this year, an increase of 16.5 %.
Linda Yakarino, CEO of X, admitted to Xai on Friday, saying: “The future cannot be brighter.”
This story was originally shown on Fortune.com
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