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March 30, 2025 | 07:27 pm
TEMPO.CO, Jakarta - Elon Musk announced that his AI startup company, xAI, has acquired the social media platform X (previously known as Twitter) with a value reaching 33 billion US dollars or approximately Rp546 trillion.
"xAI has acquired X in a stock-based transaction. This combination has a value of 80 billion US dollars for xAI and 33 billion US dollars for X (45 billion US dollars minus debts of 12 billion US dollars)," said Elon in his post on X, Saturday, March 29, 2025, as quoted from Antara.
Elon Musk described that in the future, his company xAI and the social media platform X would become "interconnected" entities. Through this acquisition, he plans to integrate various aspects of both companies, including data, AI models, computing resources, distribution, and workforce.
According to a report from TechCrunch, this acquisition places X entirely under the control of xAI, Musk's AI startup company founded in 2023 to compete with OpenAI. Prior to this deal, xAI's products, such as the AI chatbot Grok, already had close ties with X. However, this acquisition further strengthens the integration between the two major companies under Musk's ownership.
Elon Musk revealed that the acquisition of X was valued at 33 billion US dollars, lower than the initial valuation of 45 billion US dollars (Rp745 trillion). This decrease in value is due to a debt of 12 billion US dollars (Rp198 trillion). Previously, Musk bought X for 44 billion US dollars in October 2022 and made it a private company. However, in the past few years, the company's valuation has experienced significant fluctuations.
In the months following the inauguration of President Donald Trump, X's valuation briefly increased as investors perceived that the platform had a greater influence in the realms of politics and society. Musk also mentioned that X now has over 600 million active users.
Since launching xAI in 2023, Musk has strengthened the company by recruiting AI researchers from Google DeepMind, Microsoft, and OpenAI. Additionally, he has built large-scale AI data centers to catch up with competitors such as OpenAI and Anthropic.
These efforts have been supported by substantial fundraising, including a funding round of 6 billion US dollars (Rp99 trillion) last December, valuing xAI at 45 billion US dollars. Musk claims that xAI's valuation has now increased to 80 billion US dollars (Rp1,324 trillion).
With xAI's acquisition of X, both companies now operate as a single entity. This move suggests that X's primary value may no longer lie in its role as a social media platform, but as part of Musk's ambition to develop more advanced artificial intelligence technology.
Editor's Choice: Elon Musk's xAI Acquires Hotshot Startup
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