Musk stated that he sold the social network to his startup on the development of artificial intelligence
The American billionaire Ilon Musk, which is now headed by the US State Efficiency (Doge), has announced that he had sold his company to social media X of his startup for the development of XAI artificial intelligence.
Source: CNN
Details: According to the agreement, the social network X is estimated at $ 33 billion, which was much less than it paid for it in 2022.
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« The XAI and X futures are interconnected. Today we officially take a step to combine data, models, calculations, distribution and talent. This combination will reveal great potential, combining the advanced capabilities of artificial intelligence and experience of XAI with enormous coverage of X, » – said Musk in the post.
Musk did not write about any immediate changes in X, although the Chat-Bott Grok from XAI is already integrated into the platform. According to him, the combined platform « will provide smarter, more significant impressions ».
After he acquired a social network in 2022, Musk made a number of changes to the platform, once known as Twitter, which forced some major advertisers to leave it. He also released 80% of the company’s staff, changed the platform check system, etc.
What was before:
- In December 2024, AXIOS with reference to Fidelity data wrotethat after buying a mask for $ 44 billion, the former Twitter social network fell to about $ 12.3 billion.
- In July 2023 Musk launched The startup of artificial XAI intelligence who intends to challenge Openai in his attempt to create an alternative to Chatgpt.
