🔥 Corporate Developments
🚀 Elon Musk’s xAI Acquires X (Formerly Twitter) for $45 Billion
🔹 What happened? Elon Musk’s AI company, xAI, has officially acquired the social media platform X in an all-stock deal valued at $45 billion.
🔹 Why does it matter? The merger aims to enhance X’s capabilities with xAI’s cutting-edge artificial intelligence, with Musk emphasizing the potential for “truth-seeking AI” and innovation in social media.
🔹 Deal structure: xAI is now valued at $80 billion, while X was assessed at $33 billion (including $12 billion in debt).
🔗 Read more: New York Post
📉 CoreWeave’s IPO Signals Cooling AI Investment
🔹 What happened? CoreWeave, a cloud computing company backed by Nvidia, launched its IPO but faced a lukewarm market response.
🔹 Key numbers: The company raised $1.5 billion, pricing shares at $40—significantly below the expected range of $47-$55.
🔹 Why it matters? Despite revenue growth from $15 million (2022) to $1.9 billion (2024), rising losses and debt are making investors cautious about AI startups.
🔗 Read more: Wall Street Journal
💰 Scale AI Seeks $25 Billion Valuation
🔹 What happened? AI startup Scale AI is reportedly seeking a valuation as high as $25 billion in a tender offer.
🔹 Why does it matter? This reflects intense competition and high investor demand in AI, even as some other firms struggle with IPOs.
🔗 Read more: Reuters
💰 Government & Policy
🇪🇺 EU Unveils €1.3 Billion AI & Cybersecurity Investment Plan
🔹 What happened? The European Commission announced a €1.3 billion ($1.4 billion) investment in AI, cybersecurity, and digital skills (2025-2027).
🔹 Why it matters? The funding aims to boost Europe’s tech sovereignty, ensuring competitiveness against the US and China.
🔗 Read more: Reuters
🎨 Cultural & Ethical AI Discussions
🎭 Zelda Williams Criticizes AI-Generated Studio Ghibli-Style Art
🔹 What happened? Zelda Williams, daughter of Robin Williams, criticized AI-generated art mimicking Studio Ghibli’s style.
🔹 Why does it matter? She pointed out ethical concerns, AI’s environmental impact, and Studio Ghibli founder Hayao Miyazaki’s strong disapproval of AI art.
🔗 Read more: San Francisco Chronicle
🏛️ White House Uses AI-Generated Meme in Immigration Policy Debate
🔹 What happened? The White House shared an AI-generated meme of convicted fentanyl dealer Virginia Basora-Gonzalez, depicting her crying after her arrest by ICE.
🔹 Why it matters? This shows how AI is now being used in government messaging and political propaganda, sparking debate over AI ethics in media.
🔗 Read more: New York Post
🚀 Industry Insights
🌍 Meta’s CTO Compares AI Race to the Space Race
🔹 What happened? Meta CTO Andrew Bosworth said the AI arms race mirrors the 20th-century space race.
🔹 Why does it matter? He urged the U.S. to invest more aggressively in AI to compete with China and other global players.
🔗 Read more: Business Insider