Elon Musk sells X to his own xAI for USD 33 billion in all-stock deal
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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Protests in Kashmir against Khamenei's killing, protesters raise anti-US, anti-Israel slogans
Srinagar (PTI): Several parts of Kashmir witnessed protests against the killing of Iran's Supreme Leader Ayatollah Ali Khamenei for the second day on Monday, with security forces using mild force to disperse protesters in a few places.
According to the officials, the protests broke out in Bemina, Gund Hassibhat, and Jehangir Chowk areas of the city here, and in Pulwama town in south Kashmir.
Scores of protesters gathered in these areas, which have a large Shia population. They marched through the streets, raising anti-US and anti-Israel slogans.
In some areas, the security forces resorted to using mild force to disperse the protesters.
Khamenei was killed in joint air strikes by the US and Israel on Iran early Saturday. Iranian state media confirmed his death on Sunday.
Iran is firing missiles at Israel and the Arab countries in retaliation.
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