Elon Musk says

Elon Musk said on Friday that her startup XAI merged with her social network, in an all-stock transaction, which gives importance to Artificial Intelligence Company in $ 80 billion and social media company in $ 33 billion.

Musk, the world’s richest person, wrote in a post on X, “XE and X futures are connected together.”

He said that the merger, “will unlock the immense capacity by combining specialization with the advanced AI capacity of XAI and the huge access to X.” He said that the purchase price was a loan of $ 45 billion less $ 12 billion.

Because both companies are privately conducted and controlled by musk, the possibility of transaction is for a stock swap, with XAI shares to XAI shares. Companies have several mutual investors, including venture firm Andresen Horovitz and Seawia Capital, as well as Fidelity Management, VY Capital and Kingdom Holding Company of Saudi Arabia.

Musk, who is also CEO Tesla And SpaceX, in the end of 2022, acquired Twitter in a deal of about 44 billion dollars, applied large -scale cost cuts and soon renamed its name X. Linda Yacarino, who hired as CEO of X, wrote in a post after Friday’s announcement, “The future could not be bright.”

Musk launched XAI less than two years ago, with “with a goal” to understand the true nature of the universe “. The Startup is trying to compete directly with openiI, which is AI Startup, which was co-established by Musk as a non-profit research laboratory in 2015. He later left Openai and recently joined the legal spat with a public relations and company and CEO Sam Altman, in which it is taken.

In XAI, Musk’s team is developing big language models and AI software products, as well as taking offerings from OpenaiI Google, Microsoft, Meta And another. The X and XAI have already been enlisted, available to users of the social media app with Groke Chatbot of XAI.

In June, XAI announced that it would manufacture a supercomputer at Memphis, Tennessee to train Groke. And in September, Musk revealed part of the Memphis supercomputer, now known as colossus, was already online.

The environment and public health advocates have expressed concern about the break -up of the development of XAI in the Memphis citing the lack of community input and oversight. Colossus is powered by natural gas burning turbines and plans to expand and construct a gravater feature with XAI schemes.

Investors paid the price of about $ 50 billion to XAI in a financing phase last year. Bloomberg reported last month that the company was negotiating to raise funds on the $ 75 billion evaluation. Openai was close to wrapping a round for $ 260 billion in February, while the deals in the deal to be closed this month had a price of AI startup anthropic $ 61.5 billion.

In addition to running Tesla, SpaceX and XA and Accident X, Musk has spent most of its time in Washington, DC as a central person in another administration of President Donald Trump.

After contributing close to $ 300 million to help Trump and other Republican candidates and reasons in the 2024 campaign, Musk was kept as in -charge of the Department of Government Efficiency (DOGE), which is ending government jobs, getting rid of expenses and rules. It is a role that keeps musk in position to make changes that benefit their various businesses.

This is not the first time Musk has merged his two institutions.

In 2016, Tesla acquired solarcity for $ 2.6 billion. The solar installer was founded by his first cousin, Lindon and Peter Riv, and funded by Musk, who served as a board chair. Tesla’s shareholders later sued, the deal was accused of violating a Solrursity bailout, and Fiduri duty that enriched Kasturi personally. Delaware Judges heard the dispute, which decided in favor of Kasturi and Tesla, and allowed the deal to stand for the automaker without any remuneration.

Watch: Xi gets xai