3/29/2025–|Last update: 3/29/202504:16 PM (Mecca time)
Illon Musk, the XAI company on the X platform, acquired a deal that estimates the value of the social networking site at $ 33 billion.
Sharing the value of his company specialized in artificial intelligence with investors in the company, previously known as Twitter, according to Reuters.
The deal can also enhance XAI’s ability to train its chat robot known as Grock.
“Today, we are officially taking a step to merge data, models, computing, distribution and skills,” wrote Musk, who also heads Tesla and SpaceX.
He added that the integration evaluates “XAI at 80 billion dollars and X at 33 billion dollars (45 billion dollars, of which 12 billion debts).”
The X and XAI representatives have not yet responded to requests for comment to Reuters. Many details about the deal are still unclear, such as how to integrate X administration into the new company or whether an organizational audit will be conducted.
Musk, the richest man in the world, is a close ally of US President Donald Trump and responsible for managing government competence.
Saudi investor Prince Alwaleed bin Talal, owner of the Kingdom Holding Company, said that he requested this development, noting that his companies are the second largest investor in X and XAI.
Announcing (merging) purchase company @xai To a company @X This is what I demanded and expected. A history deal, as each of the company @Kingdom_KHC and @Alwaled_Talal Invested in each of the two companies and our group is the second largest contributor to each of @xai and @X With our strategic ally @elonmusk
It is expected after this deal that the value of Value will reach …
– Al -Walid bin Talal (@Alwaled_talal) March 29, 2025
“The advertisement (integration) of the purchase of XAI for X, which is what I demanded and expected. A historical deal … and our group is the second largest shareholder in XA and X with our strategic ally Elon Musk.”
He added, “It is expected that after this deal, the value of our investments will reach 4 to 5 billion dollars, that is, between 15 and 20 billion riyals, and the meter is walking, thank God.”
An investor at XAI, who asked not to be identified, stated that he was not surprised by the deal, as it is considered a strengthening of a mask for his leadership and management of his two companies.
The investor added that Mask did not request the approval of the investors, but he told them that the two companies were closely cooperating and that the deal would lead to greater integration with Groke.
It is noteworthy that Mask acquired the X platform, in late 2022, compared to $ 44 billion, in a deal that included large debts. After that, his company for artificial intelligence “XAI” launched the next year, invested billions of dollars in buying advanced Enadia slices to enhance his artificial intelligence projects.
