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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Purported sleazy videos case: Action on suspended DGP after dept inquiry, says Home Minister
Bengaluru (PTI): Karnataka Home Minister G Parameshwara on Sunday said that the government will decide on further action against the now-suspended DGP K Ramachandra Rao based on recommendations following a departmental inquiry into a case concerning videos purportedly showing him behaving obscenely with women in his office.
The minister's comments followed reports that the special probe committee has ruled out Rao's claims that the clips were fake and AI-generated.
"After further departmental inquiry, whatever they recommend, the government will decide based on that. The department has to give a report to the government, and based on the recommendation made, we will take a decision," Parameshwara told reporters here in response to a question.
Since Rao claimed the circulating videos were fake AI creations, they were sent to the Forensic Science Laboratory (FSL), the minister said in response to a question.
"A team was formed in the department to find the truth. They have submitted a report to the department. The department will have to inform the government about the same, based on which further action will be taken," he added.
The state government had formed a team of four IPS officers, led by R Hitendra, Additional Director-General of Police (Law and Order), to conduct a preliminary inquiry in the case.
The government in January suspended Rao, the 1993-batch IPS officer serving as the DGP, Directorate of Civil Rights Enforcement (DCRE), after viral videos purportedly showing him acting in an obscene manner surfaced.
The videos purportedly show the 59-year-old hugging and kissing women while in office. He was wearing a police uniform in a few videos. Rao had, however, called the videos "fabricated" and vowed to take legal action.
There were even reports that the videos were shot in 2016-17 inside the office of the Inspector General of Police - Belagavi range.
