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Musk's xAI buys social media platform X for $45 billion (www.reuters.com)

submitted 3 days ago by misk@sopuli.xyz to c/technology@beehaw.org

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Archive: https://ghostarchive.org/archive/z7vik

March 28 (Reuters) - Elon Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion debt.

"xAI and X's futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said in a post on X, adding that the combined company would be valued at $80 billion.

Neither X nor xAI immediately responded to a request for comment.

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[–] passenger@lemm.ee 8 points 3 days ago (1 children)

*Billion

[–] ThePJN@sopuli.xyz 5 points 3 days ago

That too! 🤪

Good catch. My brain used a more sensible amount for that snide remark. Guess I’m still here in the real world with my stash of good ol’ V bucks brought to you by Sprite/Lego/Amazon Basics.