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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4 workers die after being buried under coal slurry in Jharkhand's Dhanbad
Dhanbad (Jharkhand) (PTI): At least four workers died after being buried under coal slurry in Jharkhand's Dhanbad district on Saturday, a police official said.
The incident took place at Moonidih coal washery in the command area of Bharat Coking Coal Limited (BCCL).
"Bodies of all four workers were dug out of debris during a rescue operation," Putki police station in-charge Waqar Hussain told PTI.
The incident took place when coal slurry was being loaded into trucks by workers, during which a large chunk of slurry fell and trapped several workers underneath, officials said.
The deceased have been identified as Manik Bauri, Dinesh Bauri, Deepak Bauri, and Hemlal Gope.
Meanwhile, the family members of the deceased and local villagers placed the bodies in front of the washery gate and began a protest.
They demanded compensation, jobs for dependents and action against those responsible for the incident.
Police and administration officials are trying to pacify the protesters, an official said.
