Elon Musk said his xAI artificial intelligence startup has acquired the X platform, which he also controls, at a valuation of $33 billion, marking a surprise twist for the social network formerly known as Twitter.
¡°The combination values xAI at $80 billion and X at $33 billion,¡± the billionaire wrote Friday in a post on X. The value of X is $45 billion when including $12 billion of debt, he said, describing the purchase as an all-stock transaction.
The deal gives the new combined entity, called XAI Holdings, a value of more than $100 billion, not including the debt, according to a person familiar with the arrangement, who asked not to be identified because the terms weren¡¯t public. Morgan Stanley was the sole banker on the deal, representing both sides, other people said.
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