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According to a Tuesday report by The Wall Street Journal, the social media platform X, which Elon Musk acquired, was once on the brink of collapse and on the verge of bankruptcy. Musk, however, managed to turn the tide for X by orchestrating an all-stock deal that saw his artificial intelligence company, xAI, merge with the platform. The newly combined entity is now valued at $113 billion (roughly RMB 800 billion), with xAI contributing $80 billion and X accounting for $33 billion. This merger is viewed as a synergy of xAI's cutting-edge AI capabilities with X's vast influence, showcasing immense potential. Furthermore, Musk's close ties with former U.S. President Trump may have facilitated the smooth execution of this transformative merger.
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