Elon Musk On Friday he said that his startup lamb has merged with X, his social network, in a transaction of all stock that values the artificial intelligence company at $ 80 million and the social media company at $ 33 million.
« The future of lamb and x are intertwined, » Musk, the richest person in the world, write In a publication in X. « Today, we officially take the step to combine data, models, calculation, distribution and talent. »
He added that the fusion, « would unlock an immense potential by mixing the capacity and experience of the advanced lamb AI with the massive reach of X ». The purchase price, he said, was $ 45 billion less than $ 12 billion.
As both companies are detained and controlled by Musk, the transaction is likely to be an exchange of shares, with X investors paid for lamb shares. Companies have several mutual investorsincluding risk companies Andreessen Horowitz and Sequoia Capital, as well as loyalty management, vy capital and The Kingdom of Saudi Arabia Holding Co.
Musk, who is also CEO of Tesla And Spacex, they acquired Twitter in an agreement with an approximate $ 44 billion at the end of 2022, implementing mass cost cuts and soon renamed X. Linda Yaccarino, which Musk hired as CEO of X, wrote in a post after Friday’s announcement, « the future could not be brighter. »
Musk launched lamb less than two years ago with a declared goal of « understanding the true nature of the universe. » The startup has been trying to compete directly with Openai, the Richly valued startup that Musk co -founded in 2015 as a non -profit research laboratory. Later he left Openai and recently participated in a public relationship and a legal species with the company and CEO SAM Altman on the direction taken.
In lamb, the Musk team has been developing models of great language and AI software products, assuming Openai offers and Google, Microsoft, Goal and others. X and Lamb have already been intertwined, with the Grok de Xai chat available to users of the application of social networks.
In June, Xai announced that he would build a supercomputer in Memphis, Tennessee, to train Grok. And in September, Musk revealed Part of the memphis supercomputer, now known as Colossus, was already online.
Environmental and public health defenders have raised their concern about the unpleasant speed of lamb development in Memphis, citing a lack of information and supervision of the community. Colossus is fed by natural gas burns and lamb burns plans to expand and build a Gray water installation Also near.
Investors valued lamb about $ 50 billion in a funding round last year. Bloomberg reported last month that the company was in talks to raise funds with a $ 75 million assessment. Openai was close to wrapping a round in February 260 million dollars while Ai Anthropic Ai generative start valued at $ 61.5 billion In an agreement that closed this month.
In addition to working Tesla, Spacex and Lamb and supervising X, Musk has spent much of his time this year in Washington, DC, as the central figure of President Donald Trump Second administration.
After contributing to about $ 300 million to help Trump and other Republican candidates and causes in the 2024 campaign, Musk was in charge of the Government Efficiency Department (DOGE) department, which eliminates government jobs, spending, and undoing regulations. It is a role that puts Musk in a position to make changes that benefit their various businesses.
This is not the first time Musk has merged two of its entities.
In 2016, Tesla acquired a plot for $ 2.6 billion. The solar installer was founded by his first cousins, Lyndon and Peter Rive, and funded by Musk, who served as chairman of the board. Tesla shareholders later sued, claiming that the agreement was a rescue of solarcity and a breach of the fiduciary duty that enriches Musk personally. Delaware judges who listened to the dispute determined in favor of Musk And Tesla, and allowed the agreement to be set without remuneration to the car maker.
Clock: X acquire lamb
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