Tinder launches the AI interactive game "The Game Game" to help users improve their flirting skills
1003
English
English
This morning, Elon Musk announced that his AI company xAI officially merged with social platform X (formerly Twitter).
The transaction uses an all-stock trading method, with xAI valued at US$80 billion (about RMB 581.1 billion) and X valued at US$45 billion (about RMB 326.8 billion). After deducting X's US$12 billion (about RMB 87.2 billion) debt, the actual valuation is US$33 billion (about RMB 239.6 billion). The total valuation of the two companies after the merger reached US$113 billion (about RMB 820.8 billion).
Musk reportedly raised an additional $1 billion (about 7.3 billion yuan) in debt financing for X, bringing X's valuation to $44 billion (about 319.5 billion yuan), consistent with the price he acquired the platform in 2022.
"The future of xAI and X are intertwined, and today, we have officially taken the steps to integrate data, models, computing, distribution and talent," Musk said in his official tweet.
Both companies are controlled by Musk and traded in essence as stock swaps, with investors in X going to be paid for xAI stocks. In addition, xAI and X have many co-investors, including a16z, Sequoia Capital, Fidelity, Vy Capital, and Kingdom Holding in Saudi Arabia.
X CEO Linda Yacarino posted after the acquisition news was announced, saying: "The future cannot be brighter."
xAI was founded in July 2023, and Musk hopes to "explore the true essence of the universe" through this company. It is also a direct competitor to OpenAI and has launched Grok chatbots on the X platform. Last year, investors valued xAI at about $50 billion, and in the latest financing negotiations, the valuation has risen to $75 billion.
This is not the first time Musk has merged his own company. In 2016, he pushed Tesla to acquire SolarCity for $2.6 billion (about 18.9 billion yuan), and although the deal had caused legal controversy, it was finally allowed to proceed.
In his tweet, Musk emphasized that the combination of xAI and X will fully unleash the potential of AI, bring smarter and more efficient experiences to global users, and promote the progress of human knowledge. He thanked all the team members for their efforts and said: “This is just the beginning.”
