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xAI, Elon Musk's AI company, just purchased X, Elon Musk's social media company
xAI has purchased X in an all-stock transaction, according to Elon Musk.
The companies plan on combining "data, models, compute, distribution and talent," using X's reach as a social platform to spread "xAI’s advanced AI capability." Combining the two companies, besides the fuzzy potential benefits social media posts could have for training AI, helps ease some of the debt that Musk took on taking Twitter private. The billionaire pulled a similar stunt in 2016 with Tesla, when the car maker merged with SolarCity for $2.6 billion.
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