XAI swallows X... Will we witness the birth of a new technology giant?

In a surprising and thrilling move for the world, Elon Musk announced yesterday, Friday, March 28, the acquisition of his AI startup "XAI" by the famous social media platform "X" in a deal valued at around $33 billion. This acquisition represents a massive shift in the tech world, combining advanced AI capabilities with the immense power of the "X" platform. Musk, who spoke through a post on "X," emphasized that this deal will open unlimited possibilities, stating that the combination of advanced AI from "XAI" and the wide reach of "X" will enhance human progress in an unprecedented way. He added that "X" platform attracts over 600 million active users, and its future is now closely tied to the future of "XAI," which was founded just two years ago. Musk pointed out that the integration of the two companies will involve unifying data, models, computing, distribution, and talent, enabling them to build a platform that not only reflects reality but actively contributes to accelerating human advancement. The deal includes a stock merger valuing "XAI" at around $80 billion, while valuing "X" at about $33 billion, taking into account the $12 billion debt accumulated on the "X" network. It is worth mentioning that Musk had acquired Twitter (which became "X") in late 2022 for $44 billion in a deal that included debts, following which "XAI" was launched the following year, with substantial spending on purchasing advanced Nvidia chips to support the project. At this pivotal moment, the world is heading towards a new chapter in Musk's story with technology and artificial intelligence, with expectations that this merger will have significant impacts in the near future.