Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk\u2019s artificial intelligence group xAI has purchased social media platform X for $45bn, as the billionaire entrepreneur brings together two of his flagship businesses. \u00a0\u201cxAI and X\u2019s futures are intertwined,\u201d Musk said on Friday evening, adding that he would be combining the data, models, computing power, distribution and talent of the two companies.\u00a0Musk said the all-stock deal valued xAI at $80bn, although he did not offer specifics about the nature of the transaction. xAI obtained a valuation of $45bn in a $5bn private funding round late last year.The deal announced on Friday, which includes $12bn in debt, values X slightly above the $44bn price that Musk paid to take the company private in October 2022 and comes after a $1bn fundraising round this month. It highlights the rebound in fortunes for X, which slumped following Musk\u2019s takeover as advertisers pulled their spending from the platform citing concerns over his hands-off approach to moderation. A group of seven Wall Street banks have also sold almost all the $12.5bn of loans Musk used to finance his takeover of Twitter in 2022. The lenders had been saddled with the debt while Musk sought to turn around X\u2019s operations as equity investors repriced their stakes in the platform at dramatic discounts. Investor interest in the loans improved in the weeks following Donald Trump\u2019s election victory in November, given the billionaire\u2019s proximity to the new administration as a confidant to the president and the head of the so-called Department of Government Efficiency intent on cutting government red tape.Investors in X include Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital and Fidelity Investments.Musk launched his start-up xAI in 2023 to \u201cunderstand the true nature of the universe\u201d and challenge the dominance of Sam Altman\u2019s OpenAI. Since then, it has launched its own chatbot, Grok, and been increasing its data centre expansion with its Colossus supercomputer cluster.\u201cThis combination will unlock immense potential by blending xAI\u2019s advanced AI capability and expertise with X\u2019s massive reach,\u201d Musk said on Friday of the X tie-up. \u201cThis will allow us to build a platform that doesn\u2019t just reflect the world but actively accelerates human progress.\u201d\u00a0Already, data from X, which Musk said has more than 600mn active users, has been used to train Grok. In turn, more sophisticated Grok features are offered to paying premium subscribers of X.<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk\u2019s artificial intelligence group xAI has purchased social media platform X for $45bn, as the billionaire entrepreneur brings together two of his flagship businesses. \u00a0\u201cxAI<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-256305","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/256305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=256305"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/256305\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=256305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=256305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=256305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}