The rapid advancement and increasing importance of artificial intelligence (AI) have been evident in recent developments, particularly in the tech industry. Elon Musk's company xAI has made significant strides in this area, with a valuation of $80 billion following a $6 billion funding round last December.
This growth is largely due to its AI capabilities, which have enabled it to acquire several notable companies. One such acquisition was Twitter, purchased by xAI for the second time in three years at a value of $33 billion excluding debt. The deal highlights the significant role that AI plays in Musk's business strategy.
Additionally, xAI has acquired a hotshot startup, X, further solidifying its position as a leader in AI development. The acquisition of these companies demonstrates xAI's commitment to advancing AI technology and its potential applications. With its growing valuation and expanding portfolio, xAI is now on par with competitors like OpenAI and Anthropic.