Reported 3 days ago
Elon Musk announced the sale of his social media platform X to his AI company xAI for $45 billion, which includes $12 billion in debt. Musk highlighted the merger as a way to combine the strengths of both companies, aiming for smarter and more meaningful user experiences. Despite X's valuation being lower than Musk's purchase price, it has started to recover, attracting back significant advertisers like Amazon and Apple. The acquisition could further Musk's ambitions in the AI sector and stabilize X amidst ongoing controversies.
Source: YAHOO