Elon Musk's AI startup xAI has merged with social network X in an all-stock deal valued at $45 billion, according to CNBC. Musk said the combination will unify data, models, computing, distribution, and talent to unlock potential. Both companies are privately held, and investors in X will likely receive xAI shares. Musk founded xAI in 2023 to understand the universe and has positioned it as a direct competitor to OpenAI, which he co-founded in 2015. Musk later left OpenAI and is publicly clashing with the company and its CEO, Sam Altman, over its current direction.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Musk's AI startup, XAI, has merged with Social Network X in an all-stock deal valued at $45
00:07billion, according to CNBC. Musk said the combination would unify data, models, compute,
00:12distribution, and talent to unlock potential. Both companies are privately held, and investors
00:16at X were likely to receive XAI shares. Musk founded XAI in 2023 with the goal of understanding
00:21the universe and is positioned as a direct competitor to OpenAI, which he co-founded in
00:262015. Musk later left OpenAI and is now publicly clashing with the company and its CEO Sam
00:31Altman over its current direction. For all things money, visit Benzinga.com.