Elon Musk has sold his social media company X to his own AI company xAI for $33 billion (₹2.82 lakh crore). This deal was made through a stock exchange, meaning no cash was used.
Musk thinks X and xAI are closely linked. This deal will bring together data, technology, experts, and resources. The goal is to combine xAI’s powerful AI technology with X’s 600 million+ users. This will help xAI improve its AI models (like Grok chatbot) using X’s data and give X users a better, AI-driven experience.
Originally, X was worth $45 billion (₹3.85 lakh crore). But after subtracting $12 billion (₹1.03 lakh crore) in debt, the final price was $33 billion (₹2.82 lakh crore).
For reference, Musk bought X (previously Twitter) in October 2022 for $44 billion.
Musk believes this deal will speed up human progress and support his goal of “finding truth and expanding knowledge.” He also says it will give billions of people a smarter and more meaningful online experience.
Elon Musk is the CEO of SpaceX and Tesla. Recently, he was appointed as an advisor to U.S. President Donald Trump.
After buying Twitter, Musk not only renamed it to X but also made several major changes. He also modified policies related to misinformation, user verification, and hate speech.
Shashi Rai
