Elon Musk Sells X to His xAI Company
"Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion.“xAI and X’s futures are intertwined,” Musk, the world’s richest person, wrote in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”
Musk launched xAI less than two years ago with a stated goal to “understand the true nature of the universe.” The startup has been trying to compete directly with OpenAI, the richly valued AI startup that Musk co-founded in 2015 as a non-profit research lab. He later left OpenAI and has recently been involved in a public relations and legal spat with the company and CEO Sam Altman over the direction that it’s taken.
xAI has been developing large language models and AI software, competing with OpenAI, Google, Microsoft, Meta, and others. Its chatbot, Grok, is already integrated into X. In June, xAI announced plans to build a supercomputer in Memphis, Tennessee, to train Grok, and by September, part of the system—now called Colossus—was online.
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