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Musk’s xAI merges with X, valued at $33 billion

Elon Musk’s xAI merges with X, valuing the social media site at $33 billion and AI company at $80 billion.

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Elon Musk’s xAI merges with X, valuing the social media site at $33 billion and AI company at $80 billion.

In Short

Elon Musk’s startup xAI has merged with his social media platform X in an $80 billion deal to enhance their capabilities.

The merger aims to combine xAI’s technology with X’s reach, with plans for a supercomputer in Memphis and existing AI products like the Grok chatbot.

Elon Musk announced that his startup xAI has merged with X, the social media platform he controls, in an all-stock deal that values xAI at $80 billion and X at $33 billion.

Musk stated that the merger aims to combine resources from both companies to enhance their capabilities. He believes this will unlock significant potential by integrating xAI’s advanced technology with X’s broad reach.

The transaction is likely a stock swap since both companies are privately held and controlled by Musk. Investors in X will receive shares in xAI. Both companies share several mutual investors, including Andreessen Horowitz, Sequoia Capital, Fidelity Management, Vy Capital, and Saudi Arabia’s Kingdom Holding Co.

High competition

Musk’s foray into AI began with the establishment of xAI about two years ago, aimed at understanding the universe. xAI has been working to compete with prominent AI companies like OpenAI, a venture Musk co-founded but later distanced himself from due to disagreements.

xAI has developed AI products and aims to enhance its offerings with the merger. The companies are already connected, with xAI’s Grok chatbot available on the X app. xAI also plans to build a supercomputer in Memphis to enhance its AI capabilities, despite concerns from local advocacy groups over the project’s environmental impact.

Musk is also engaged in political activities, having contributed significantly to Donald Trump’s campaign while overseeing a department aimed at reducing government expenditure. This merger follows a previous acquisition strategy he employed with Tesla when it acquired SolarCity in 2016.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Big Tech, foreign governments react to Trump’s H-1B visa fee

Trump imposes $100,000 fee on H-1B visas, sparking urgent response from Big Tech and foreign governments

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Trump imposes $100,000 fee on H-1B visas, sparking urgent response from Big Tech and foreign governments

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In Short:
– Trump announced a $100,000 fee on new H-1B visa applications, starting next lottery cycle.
– Major companies urge H-1B holders to stay in the U.S. due to potential immigration issues.
Major technology companies and foreign governments are reacting to President Donald Trump’s announcement of a $100,000 fee on H-1B visas.
The charge will affect new applicants, not renewals or current holders, and is set to take effect in the next lottery cycle.The proposed fee could significantly impact technology and finance sectors reliant on skilled immigrants, particularly from India and China.

Companies such as Amazon, JPMorgan Chase, Goldman Sachs, and Microsoft are advising their H-1B visa holders to remain in the U.S. and be cautious about international travel due to potential immigration status issues.


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Visa Implications

As Trump’s administration intensifies its immigration policies, major companies and officials abroad are assessing the implications.

The Indian Ministry of External Affairs noted potential humanitarian consequences, highlighting disruptions for families. South Korea’s foreign ministry is also reviewing impacts on its skilled workforce.

Trump’s initiative aims to prioritise American workers and deter visa system abuses, according to a White House spokeswoman.

The full effects of this policy shift remain to be seen, with many companies weighing their next steps in response to this change.


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Trump and Xi progress on TikTok deal, plan meeting

Trump and Xi progress on TikTok deal, plan South Korea meeting to discuss trade and geopolitical tensions in six weeks

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Trump and Xi progress on TikTok deal, plan South Korea meeting to discuss trade and geopolitical tensions in six weeks

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In Short:
– Trump and Xi are progressing on a TikTok agreement and plan to meet in South Korea soon.
– Future discussions will address trade, security concerns, and regional tensions between the U.S. and China.
U.S. President Donald Trump and Chinese President Xi Jinping made headway on a TikTok agreement and plan to meet in South Korea within six weeks.
Their call aimed to reduce tensions between the two superpowers, covering trade, illicit drugs, and the conflict in Ukraine. Despite suggestions of progress, a definitive agreement regarding TikTok remains unclear.Banner

The leaders agreed to further discussions at the Asia-Pacific Economic Cooperation forum in October.

Trump indicated that Xi would visit the U.S. later and that he would head to China next year.

Future Discussions

Trump confirmed that the TikTok deal is progressing, noting potential US control over the app’s algorithm.

Uncertainties remain, including ownership structure and control dynamics with ByteDance. Lawmakers express concerns over national security implications stemming from continued Chinese involvement.

Trump’s tariffs on Chinese exports have increased significantly, complicating relations further.

As trade discussions continue, regional tensions in Taiwan and the South China Sea remain on the agenda, though unaddressed in recent communications.


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Heathrow faces delays due to cyber attack disruption

Heathrow warns of delays following cyber attack disrupting European airports

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Heathrow warns of delays following cyber attack disrupting European airports

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In Short:
– Heathrow Airport warns of potential delays due to a cyber-attack affecting European airports.
– Passengers should arrive early and check updates with their airlines for regular information.
Heathrow Airport has issued a warning regarding potential delays following a cyber-attack that has impacted several European airports. Passengers are advised to arrive early and check for updates with their airlines.Banner

The cyber-attack, although primarily affecting systems in Europe, has caused ripple effects at Heathrow. Officials are working to restore normal operations as quickly as possible in coordination with European authorities.

Air Travel Impact

“It is still too early to say when the problem will be resolved,” it said.

Berlin Airport is also experiencing delays.

The attack targeted a business providing check-in and boarding systems for several airlines worldwide.

As a result, Brussels Airport staff are having to conduct manual check-in and boarding procedures due to the automated systems being down.

“This has a large impact on the flight schedule and will unfortunately cause delays and cancellations of flights,” it said in a statement on its website.

For further information on travel arrangements and logistics, please visit your respective airline’s website.


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