Cnn
–
Friday evening, Elon Musk announced that he had sold his social media company, X, in Xai, his artificial intelligence company. XAI will pay $ 45 billion for X, a little more than Musk paid for that in 2022But the new agreement includes $ 12 billion in debt.
Musk wrote on his account x that the agreement gives X an assessment of $ 33 billion.
“The assets of Xai and X are intertwined,” said Musk in a Publish. “Today, we officially take the measure to combine data, models, calculation, distribution and talent. This combination will unlock immense potential by mixing the advanced capacity and expertise of XAI AI with the massive range of X.”
Musk has not announced any immediate change to X, although the XAI Grok chatbot is already integrated into the social media platform. Musk said that the combined platform “will offer smarter and more significant experiences”. He said the value of the combined company was $ 80 billion.
Musk has made a series of modifications to the platform formerly known as Twitter since he bought it in 2022, inviting Some major advertisers to flee. He dismissed 80% of the staff of the company, upset the system of verification of the platform and restored suspended accounts white supremacists in the months following the acquisition.
Although X’s evaluation is lower than Musk paid for the social point of sale, it is always a Inversion of fortunes for the company. Investment company Fidelity estimated in October that X was worth almost 80% less than when Musk bought it. In December, X had recovered a little, but was still worth only 30% of what Musk paid, according to Fidelity, whose Fund of Bleu-Blue Chip holds a participation in X.
The news also occurs while Musk was under the spotlight of its role at the Ministry of Government in the Trump administration, which raised questions about How much attention he pays to his companiesespecially Tesla. The combination of X and XAI could allow Musk to rationalize its efforts.
Musk has also worked to settle as a leader in AI space, a big goal for the Trump administration and the technology industry. Earlier this year, he directed a group of investors who are trying to buy Chatgpt Maker Openai for almost $ 100 billionAnother climbing in longtime rivalry between Musk and the CEO of Openai, Sam Altman.
We do not know precisely how the acquisition will benefit the ambitions of Musk’s AI. But the stricter integration with X could allow XAI to push its latest models and features from AI to a large audience more quickly.
The great advertisers, who had largely abandoned X after a speech of hatred jumped on the platform and advertisements were seen running alongside pro-Nazi content, began to return. (X done Several ineligible pro-Nazis accounts For advertisements that follow the advertisers of advertisers.) Amazon And Apple Are both reinvesting again in X campaigns, a remarkable approval of two brands with mass attraction.
Stabilization of the brand has helped a group of bonds, which had a deep underwater in their investments, sells billions of dollars in their debt funds X to 97 cents on the dollar earlier this month – but with extremely high interest rates – according to several recent reports.
Bloomberg In February, X was in talks to collect funds that would appreciate the company at $ 44 billion. We do not know what came from these talks and why Xai evaluates X unless he could have recovered investors. X must reimburse its massive debt charge, which said on Friday that Musk totals $ 12 billion.
A large part of the reason why the evaluation of X has rebounded in recent months is XAI, which x would have held a participation. Last month, XAI was looking for an evaluation of $ 75 billion in a financing lap, according to Bloomberg.
But the biggest factor of the superb rebound in X is almost certainly Musk himself: the elevation of Musk to an employee of the special government under President Donald Trump empowered the richest person in the world with a great influence on the operations of the federal government, which he quickly sought to remedy.
Investors Paris on X probably make a bet on its leader, not his business. Last year, Musk transformed X into a pro-Trump machine, using the platform for Boost President’s campaign. In the articles of his 200 million followers, he pushed the racist Conspiracy theories on the immigration policies of the Biden administration and obsessed On the “awakened spirit virus”, a term used by certain conservatives to describe the progressive causes.
And now, with Trump back in office and musk working in the executive power, X has again become the Most important social media platform To follow and interact with the Trump administration. Musk also used X to broadcast some of its changes with its government ministry.
This story has been updated with an additional context and developments.