Elon musk tesla chief: The world’s richest man Elon Musk is known for his strange decisions. Now he has sold his social media platform X to one of his own companies. Musk said that he has sold X to his artificial intelligence company XAI. It is an all-stock deal worth $33 billion. Elon Musk said in a post on X, “XAI and the future of X are intertwined. Today we are taking official steps to combine data, models, compute, distribution, and talent.” XAI will pay $45 billion for X, slightly more than Musk paid for it in 2022, but the deal also includes $12 billion in debt.

Immense potential will be unlocked

Musk said that this move will unlock immense potential by combining XAI’s advanced AI capabilities and expertise with X’s vast reach. He said that the deal values ​​XAI at $80 billion and X at $33 billion. He said, “XAI has been established for 2 years and it has become one of the world’s leading AI laboratories, building models and data centers at unprecedented speed and scale.”

“This combination will unlock enormous potential by combining XAI’s advanced AI capabilities and expertise with X’s vast reach,” Musk wrote. The combined company will deliver smarter and more meaningful experiences to billions of people. The company will continue to work on our core mission of exposing the truth and advancing knowledge.’

Musk bought Twitter for $44 billion

Elon Musk is also an advisor to US President Donald Trump. Musk bought X in 2022 for $44 billion. At that time it was known as Twitter. Musk made several changes to this social media platform, due to which some advertisers turned away from it. Musk fired 80 percent of Twitter’s employees. He also changed the platform’s policies related to hate speech, misinformation and user verification and changed Twitter’s name to X.