The world’s richest person announced on Friday that he has combined two of his multi-billion-dollar companies. Here’s how ...

Musk’s decision to merge the businesses is a win for X investors, who have endured more than two years of uncertainty since ...

Elon Musk transferred ownership of X.com to xAI in a $33 billion deal as he ramps up AI operations at a massive Memphis ...

Reflects Increasing Investor Demand for Equity Income FundsCHICAGO, July 18, 2024 (GLOBE NEWSWIRE) -- XA Investments (XAI), an alternative investment management and consulting firm, announced the ...

Now that it has a presence in the multibillion-dollar social media market, xAI might make the case to investors that it has more revenue growth opportunities than when it focused solely on AI.

The merger will “combine the data, models, compute, distribution and talent” of the two companies, according to Elon Musk. In particular, Grok AI is expected to expand on X.

Notably, xAI counts among its investors venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, which have established crypto-focused investment funds.

As we noted in January, xAI staffers were also X employees, with company laptops and access to its code base. Musk had also previously claimed X investors would own 25 percent of xAI, but as of ...

Gene Munster, a managing partner at Deepwater Asset Management and an investor in both companies, wrote on X that the deal “makes a lot of sense” by giving xAI an in-house proprietary data set ...

They also share many of the same investors, and in some cases, employees even share office space in Palo Alto. The transaction valued xAI at $80 billion, Musk said — a jump from a valuation of ...

Musk had previously canvassed potential investors for an xAI funding round at a valuation of about $75 billion, Bloomberg News reported in February. xAI investors have included Sequoia Capital ...

Musk, the world’s richest person, on March 28 used his artificial intelligence startup, xAI, to purchase his social media platform in an all-stock deal that values X at $33 billion, not including debt ...