Aktiaendal: Musks Ki company swallows online platform X

Tech billionaire Elon Musk lets the online platform X open in his AI company Xai. The surprising takeover was sealed by a share deal, as Musk announced. The majority of X also previously belonged to him. Since the Twitter successor is now part of Xai, it should be much easier to use the artificial intelligence with the name GROK developed by Xai to use all content of the online platform.

Xai competes with other AI companies such as the Chatgpt developer Openaai. Musk wrote that the takeover would be merged with data, computer infrastructure and employees. X have 600 million active users, he claimed. The joint company will reach “billions” users.

Company Rochade with billions of billions

In the transaction, Xai was rated $ 80 billion and X was $ 33 billion, wrote Musk. In autumn 2022 he paid around $ 44 billion for the short message service Twitter based on the X. For this he also took out loans worth around twelve billion dollars. These debts would now be deducted when evaluating X, explained Musk.

Since both companies are not noted on the stock exchange, they do not have to publish any official messages for the takeover. The Finanzdienst Bloomberg reported on an informed person that the new company Heiße Xai Holdings was attributed to an evaluation of more than $ 100 billion.

Musk torpedoed advertising business from Twitter

After the Twitter takeover, Musk had halved the workforce and lifted many restrictions that the users of the platform should protect against hate speech and false information. Anyone who shares Musk’s right political views, whose voice was given more weight in the service. Numerous large advertising customers withdrew because they feared that their ads ended up next to Hass speech and harm their image.

Musk complained several times that the proceeds from advertising have halved. The current status is unclear. Musk had several renegade advertisers sued, whom he accused of having agreed to have agreed a boycott of the platform.

Last year Musk became a close confidante of Republican Donald Trump. With his victory in the presidential election, some companies then considered resuming their advertising at X because they feared retaliation on the part of the new government. In the meantime, Musk has received further weight due to his role as Trump’s cost -lowering costs within the government. With this tailwind, X was recently able to collect $ 900 million from investors.

Platform for everything under a new roof?

When he renamed X in X, Musk announced that the service should become a “platform for everything” – from banking transactions to the job exchange. So far, only approaches have been recognized. It is unclear whether the vision should also be followed up under the umbrella of Xai. Also, as it should go on for the X-boss Linda Yaccarino appointed by Musk, no information was initially given.