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Elon Musk says he sold X to his AI company
Elon Musk on Friday evening announced he has sold his social media company, X, to xAI, his artificial intelligence company, in a deal that values X at $33 billion, much less than he paid for it in 2022 but a significant rebound from its moribund valuation just a few months ago.
The news also comes as Musk has been in the spotlight for his role at the Department of Government Efficiency in the Trump administration, which has raised questions about how much attention he’s paying to his companies, particularly Tesla. Big advertisers, who had largely abandoned X after hate speech surged on the platform and ads were seen running alongside pro-Nazi content, have begun to return. In posts to his 200 million followers, he pushed racist conspiracy theories about the Biden administration’s immigration policies and obsessed over the “woke mind virus,” a term used by some conservatives to describe progressive causes.
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