In a social media post on Friday, Elon Musk said his startup xAI has acquired his social media company X.

Summary

Elon Musk announced that his AI startup xAI has merged with his social media platform X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion.

Musk stated the merger will combine AI expertise with X’s broad reach.

xAI, launched less than two years ago, competes with OpenAI and has developed the Grok chatbot, integrated with X.

  • Buffalox@lemmy.world
    34·
    6 days ago

    Musk stated the merger will combine AI expertise with X’s broad reach.

    Ah yes, the famous combining two losing strategies, so they can lose money twice as efficiently.

        • minnow@lemmy.world
          10·
          5 days ago

          Well, Sears went under because the CEO was a True Believer in the Libertarian/Atlas Shrugged/Starve The Beast method of running a business. He genuinely thought that making stores and even individual departments fight for ever reducing funding was going to make them better. What he learned is that when people have their livelihood at stake, they fight dirty and lie.

          When Sears finally closed forever, he said he regretted it. Probably not as much as the people whose lives he ruined.