Elon Musk's XAI all-stock deal offers unexpected win for X investors

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Elon Musk's XAI all-stock deal offers unexpected win for X investors - Business Standard

Quick Summary:

AI companies have been thirsty for any and all proprietary data sets as they train their AI systems and look for ways to differentiate their chatbots from rivals.Reddit Inc., for example, has licensed its trove of user content to Alphabet Inc.’s Google and makes hundreds of millions of dollars per year on AI licensing.

The $33 billion equity value of X in the deal is about the same as its valuation in a recently closed funding round, and also close to Musk’s take-private price in 2022, which also counted $12 billion in debt.

The deal was a surprise, but not necessarily shocking: The two businesses have worked together closely since xAI’s founding in 2023, including on data licensing and product distribution for xAI’s chatbot, Grok.