Elon Musk Sells X to AI

Elon Musk Transfers X Social Network to AI Startup xAI

• Elon Musk transfers ownership of social network X to his AI startup, xAI.
• The transaction values xAI at $80 billion and X at $33 billion, including a $12 billion debt.
• This move aims to synergize technologies and enhance both companies’ capabilities.
• The decision coincides with a U.S. court’s refusal to dismiss a lawsuit against Musk.
• A class action lawsuit accuses Musk of delaying disclosure about investments in X.

Musk’s strategic transfer of X to xAI, valued at $80 billion compared to X’s $33 billion, aligns with ongoing legal challenges as a U.S. court allows a lawsuit against him to proceed.