By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Arabian NewsThe Arabian NewsThe Arabian News
  • Home
  • Business
  • Exclusive
  • Technology
  • Wellness
  • Real Estate
  • Contact
Reading: Elon Musk xAI startup bought X at $33 billion valuation
Share
The Arabian NewsThe Arabian News
  • Politics
  • Pursuits
  • Business
  • Technology
  • Home
  • Business
  • Exclusive
  • Technology
  • Wellness
  • Real Estate
  • Contact
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
alt="Elon Musk xAI startup bought X at $33 billion valuation "
The Arabian News > Technology > Elon Musk xAI startup bought X at $33 billion valuation
Technology

Elon Musk xAI startup bought X at $33 billion valuation

admin
SHARE

Elon Musk has revealed that his artificial intelligence startup, xAI, has acquired social media platform X (formerly Twitter) at a valuation of $33 billion, with its total worth climbing to $45 billion when factoring in $12 billion in debt.

xAI’s Strategic Move into Social Media
This buy represents a big change in Musk’s strategy of incorporating AI into day-to-day digital interactions. xAI, which Musk created in 2023 as an alternative to OpenAI, will work on “truth-seeking” AI models, and this acquisition indicates more extensive incorporation of AI-driven features into X’s platform.

Possible Consequences of the Deal
1. Social Media Led by AI: With X owned by xAI, then significant AI-driven changes to the site may involve automated moderation, rich content suggestions, and AI-backed engagement tools.
2. Valuation vs. Original Purchase Price: Musk initially purchased Twitter for $44 billion in 2022, but this recent valuation indicates a considerable drop in its market value. Nevertheless, Musk has always argued that X’s long-term potential is high.

3. Financing Issues & Expansion Plans: xAI acquisition indicates a robust funding support, likely from third-party investors, as Musk attempts to combine AI with social media, digital payments, and super-app aspirations.

4. Competitive Situation: As OpenAI, Google DeepMind, and Anthropic dominate AI growth, Musk’s xAI-X merger may result in a new AI-driven digital universe, upending conventional social media and AI businesses.

What’s Next?
Musk has in the past intimated converting X into an “everything app” featuring AI-based elements such as Groq-powered chatbots, AI-summaries of news, and even payment services. With xAI now taking the reins, the future of X might be characterized by enhanced AI automation, real-time AI-powered content moderation, and embedding of AI tools in user experiences.

This new step consolidates Musk’s interest in transforming digital media and artificial intelligence, but if the purchase will resuscitate X’s fortunes is not yet clear.

You Might Also Like

UAE to Launch 500 Electric Vehicle Charging Stations by 2025, Fosters Clean Energy

UAE Launch Unified Platform to Regularize and Standardize Drone Industries

American Academy Pushes for Safer Button Battery Designs to Protect Kids

Samsung’s Galaxy Ring Transforms Health Tracking with 24/7 Monitoring and Seamless Galaxy Integration

UAE studies expanding remote work model for the future workforce

TAGGED:Elon Musk xAI of $33 billion valuation
Share This Article
Facebook Twitter Email Print
Previous Article alt="Abu Dhabi Embraces New Autonomous Ride-Hailing Service with Autogo" Abu Dhabi Embraces New Autonomous Ride-Hailing Service with Autogo
Next Article alt="IPL 2025: Punjab Kings Aim for Back-to-Back Wins as Lucknow Look to Overcome Injuries" IPL 2025: Punjab Kings Aim for Back-to-Back Wins as Lucknow Look to Overcome Injuries

Popular News

alt="Urban Co Home Services Now Bookable on Noon App in UAE, KSA"
Urban Co Home Services Now Bookable on Noon App in UAE, KSA
World
alt="'Black Mirror: Bandersnatch' Expiring Soon on Netflix—Watch Before Leaving"
‘Black Mirror: Bandersnatch’ Expiring Soon on Netflix—Watch Before Leaving
Entertainment
alt="J-Hope Sets Bangkok Stage Ablaze with Fire, Faith, and BTS Spirit"
J-Hope Sets Bangkok Stage Ablaze with Fire, Faith, and BTS Spirit
Entertainment
alt="Mohanlal's Thudarum crosses ₹2 billion worldwide, a Malayalam milestone"
Mohanlal’s Thudarum crosses ₹2 billion worldwide, a Malayalam milestone
Entertainment

Recent News

  • New Covid Wave Hits Hong Kong, Singapore: Officials Urge Vaccination
  • Millionaire Recreates 1980s Kerala Village in Dubai—Internet Amazed
  • PSL Resumes to High Spirits: ‘Cricket Brings Us All Together,’ Raza Says
  • UAE to Temporarily Suspend Critical Traffic, Police Services App for 18 Hours
  • BTS’ Jin Shatters Romantic Tropes with Emotionally Charged Album Echo
The Arabian News

Quick Links

  • Home
  • Business
  • Real Estate
  • Contact

Featured Categories

  • Real Estate
  • Wellness
  • Politics
  • Economics

Find Us on Socials

© 2024 The Arabian News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?