Elon Musk’s xAI Acquires X Social Media Platform in $80 Billion Deal

Elon Musk announced on Friday that his artificial intelligence company, xAI, has acquired the social media platform, X, in an all-stock deal. The acquisition values xAI at $80 billion and X at $33 billion (after deducting $12 billion in debt).

Leading AI Lab and Efficient Company

Founded just two years ago, xAI has quickly established itself as one of the premier AI labs globally. The company has been developing models and data centers at an unprecedented pace and scale. On the other hand, X has evolved into a digital hub where over 600 million active users turn to for real-time information. Over the past two years, X has transformed into one of the most efficient organizations globally, setting the stage for scalable growth in the future.

Combining Forces for Future Growth

According to Musk, the futures of xAI and X are closely intertwined. The merger will bring together data, models, computing power, distribution channels, and talent from both entities. This integration is expected to unlock significant potential by leveraging xAI's advanced AI capabilities and expertise with X's extensive user base. The combined company aims to provide more intelligent and meaningful experiences to billions of individuals while upholding their core mission of seeking truth and advancing knowledge. The goal is to create a platform that not only reflects the world but also actively propels human progress forward.

Musk expressed gratitude towards the dedicated teams at xAI and X for their hard work that has led to this milestone. He emphasized that this merger is just the beginning of an exciting journey towards innovation and growth. Musk thanked everyone for their ongoing partnership and support.

A representative from X declined to provide any comments regarding the deal when contacted by Business Insider. This story is still developing, and updates will be provided as they become available.

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By: ktangalakislippert@businessinsider.com (Katherine Tangalakis-Lippert,Lloyd Lee)
Title: Elon Musk’s xAI Acquires X Social Media Platform in $80 Billion Deal
Sourced From: www.businessinsider.com/elon-musk-says-xai-acquired-x-in-all-stock-deal-2025-3
Published Date: Fri, 28 Mar 2025 21:37:22 +0000