Pakistan, March 29 -- Elon Musk's xAI has acquired the social media platform X, which was valued at $33 billion in the deal. This move allows xAI to leverage the platform's data and distribution channels for its AI development, particularly for its chatbot Grok. Musk stated that the merger would enhance the capabilities of both companies, valuing xAI at $80 billion and X at $33 billion after accounting for debt.

The specifics of the deal remain unclear, such as how leadership from X will be integrated into the new company. There are also questions about potential regulatory scrutiny, though Musk has emphasized the importance of combining their resources. Saudi investor Prince Alwaleed bin Talal highlighted that the deal would boost the v...