US, Mar 29 (AP): Elon Musk has sold social media site X to his own xAI artificial intelligence company in a USD 33 billion all-stock deal, the billionaire announced on Friday.
Both companies are privately held, which means they are not required to disclose their finances to the public.
Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” He said the deal values xAI at USD 80 billion and X at USD 33 billion.
Musk, who serves as CEO of Tesla and SpaceX as well as an advisor to Presidend Donald Trump, bought the site then called Twitter for $44 billion in 2022, gutted its staff and changed its policies on hate speech, misinformation and user verification and renamed it X.
He launched xAI a year later. “xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” Musk wrote on X.
“The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge.”
@xAI has acquired @X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).
— Elon Musk (@elonmusk) March 28, 2025
Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at…
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New Delhi: India launched “Operation Sindoor” early Wednesday morning, targeting nine terror launchpads in Pakistan and Pakistan-occupied Kashmir (PoK). According to reports, 24 missile strikes were carried out in response to the recent terror attack in Pahalgam. The operation reportedly killed around 70 terrorists.
Soon after the strikes, a flood of videos and photos began circulating on social media and TV channels. However, many of these turned out to be false or misleading.
Mohammed Zubair, co-founder of Alt News, has been fact-checking these claims since early morning. He confirmed that many of the videos shared online were actually from other global conflicts, such as those involving Israel, Gaza, and Iran. Some videos were even taken from video games and falsely shared as real footage of the Indian attack.
Pakistan also claimed that it shot down two Indian aircraft. Zubair clarified that this claim is false and that only drones were downed, not manned aircraft.
News Channel Republic TV, aired videos claiming to show the strikes. Zubair revealed that the footage in question was both old and edited, and not a real-time video of the current incident.
Several social media users have shared videos showing explosions in Gaza, falsely claiming they depict Wednesday’s Israeli attack. However, Zubair has traced the original sources of these clips and confirmed that they are unrelated to the recent Indian operation.
Zubair’s efforts to counter misinformation have been widely appreciated on social media. Some users went as far as suggesting he deserves the Bharat Ratna for his work. Others noted that the kind of fact-checking done by Alt News could cost the government up to ₹100 crore if done officially.