Xai by Elon Musk swallows his social media platform X

An investor in XAI, and now in the combined entity, he told Reuters that he was not surprised by the agreement, observing him as a musk that consolidate his leadership and management in his own companies. The investor refused to be appointed.

Musk did not ask the approval of the investors, but he told them that the two companies had collaborated closely and the integration would guide the deepest integration with Grok.

Open rivalry

Musk’s XAI startup was launched less than two years ago and recently collected $ 10 billion in a financing round that evaluated the company at $ 75 billion, according to a media ratio.

In February, Musk, 53 years old, made an offer from $ 97.4 billion with a consortium for the Openii make -chalgpt maker, who was rejected, with Openai saying that the start was not on sale. Musk co-founded Openi with CEO Sam Altman in 2015.

Musk competes directly with the popular Openi platform and sued the Federal Court in California to prevent his rival from converting from a non -profit organization to a profit activity. At the beginning of this month, a judge denied Musk’s request for a preliminary injunction that would have prevented the passage.

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The wide release of AI software has triggered a burst of investments and competition in Silicon Valley. In an attempt to be more efficient, companies are looking for ways to integrate the software into almost all their operations.

While the competition in AI intensifies, Xai has increased its ability of the data center to form more advanced models and its “Colossus” supercomputer cluster in Memphis, the Tennessee, is advertised as the largest in the world.

Xai introduced Grok-3, the latest iteration of his chatbot, in February, while trying to compete with the Chinese Deepseek and Openii artificial intelligence company supported by Microsoft. Platform X can serve to further distribute XAI products, while providing a real -time feed of reflections, screenshots and other user data.

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Twitter freed

Musk won an agreement in 2022 to buy X, then Twitter, for $ 44 billion, ending his race as a public company from his initial public offer of 2013, declaring that “the bird is freed” once the acquisition is closed.

He passed out the company’s workforce after the acquisition, pushing the advertisers to escape from the platform and a quick drop in revenue. Recently, the brands have returned to x as Musk’s influence grows in the Trump administration.

The seven banks that extended $ 13 billion in loans to Musk to buy X have maintained the debt on their books for two years until they were able to sell it all at once at once, according to a source that is familiar with transactions.

This was made possible after an increase in the interests of investors for exposure to artificial intelligence companies together with the best operating performance of X in the previous two quarters, among other factors, according to two people who are familiar with the matter.

After the merger, the investors who purchased the debt from the banks will draw profit, said Espen Robak, founder of Pluris Valuation Advisors, specialized in Illyquide activities. “Definitely the debt is worth more now, if not completely paid.”

Separately, on Friday a Judge of the United States rejected an offer from Musk to reject a case claiming to have framed the former Twitter shareholders waiting for too long to reveal his initial investment in society.

Reuters