DID xAI Buy X (Twitter)?

Elon Musk stated on Friday that his xAI has acquired X (formerly known as Twitter.

• For context, Musk paid $44 billion to buy Twitter in late 2022, and some of its investors had marked the shares down by more than 70%. xAI was most recently valued at $50 billion, in a late 2024 fundraising round.
• The two companies have many shareholders in common, including venture firm Sequoia Capital and mutual fund manager Fidelity. 

What Musk’s saying: “xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

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