Tag: X

  • Musk’s xAI Acquires X for $33 Billion in Stock Deal

    Musk’s xAI Acquires X for $33 Billion in Stock Deal

    Key Takeaways

    1. Elon Musk’s AI firm xAI acquired X for $33 billion, valuing the company at $45 billion after accounting for $12 billion in debt.
    2. X has over 600 million active users and has seen an increase in stock price since its launch in 2006.
    3. xAI, founded in 2023, aims to “understand the universe” and its Grok AI is now among the top three AI models globally.
    4. xAI received $6 billion in Series C funding, allowing for an upgrade of their supercomputer, Colossus, to 200,000 Nvidia Hopper GPUs.
    5. The acquisition may change how Grok accesses public data on X, raising concerns for users about the potential use of their data by AI.

    Elon Musk’s AI firm, xAI, has bought X for $33 billion in a deal entirely made with stock. This amount reflects a valuation of $45 billion, taking into account $12 billion in debt. In 2022, Musk acquired Twitter for $44 billion in cash, later rebranding it to X.

    User Engagement and Growth

    Musk pointed out that X boasts more than 600 million active users and remains a favored site since its debut in 2006. The stock price of the company has also seen an increase in recent years.

    Milestones for xAI

    Founded in 2023 with private funding, xAI aims to “understand the universe.” Its Grok AI has surged up the Chatbot Arena Leaderboard, now ranking among the top three AI models globally. Grok was developed on a supercomputer named Colossus, which features 100,000 Nvidia Hopper GPUs.

    In December 2024, the company secured $6 billion in Series C funding from a variety of investors such as Blackrock, Kingdom Holdings, Morgan Stanley, and Sequoia Capital. This influx of capital will enable xAI to upgrade Colossus to a 200,000 Nvidia Hopper GPU supercomputer.

    Implications for Data Access

    Currently, Grok has the ability to access public posts on X, and the recent acquisition may alter the data access for xAI’s AI, as Musk said, “Today, we officially take the step to combine the data, models, compute, distribution and talent.” Users worried about the permanent use of their X data by AI might want to consider switching to alternative social media networks and deleting their X accounts.

    For those interested in exploring new applications with the open-source Grok AI model, a powerful Nvidia GPU is available for purchase on Amazon.

    Source:
    Link

    Musk's xAI Acquires X for $33 Billion in Stock DealMusk's xAI Acquires X for $33 Billion in Stock Deal
    Tags: , ,
  • TikTok Set to Shut Down in the US This Sunday

    TikTok Set to Shut Down in the US This Sunday

    Currently, TikTok US is valued between $40 billion and $50 billion, but it faces a deadline of less than a week to keep its services running. This situation would leave about 170 million users in search of alternatives like Bluesky or X. In relation to X, there are hopes in China that Elon Musk might take control of TikTok’s US division. If this happens, it’s possible that the two platforms could merge. However, any takeover would require time for regulatory approval, meaning that for now, this is just speculation.

    Plans for Shutdown

    A report from The Information, cited by Reuters, states that “TikTok plans to shut off its app for U.S. users on Sunday, when a federal ban on the social media app could come into effect, unless the Supreme Court moves to block it.” Nevertheless, the law signed by President Biden last year does not enforce this shutdown. It would prevent new downloads from Apple’s or Google’s app stores but would still permit current users to access the app. In the long run, this could lead to a gradual decline in user numbers.

    User Notification Strategy

    In the event of a ban, TikTok has plans to show an in-app notification that will guide users to a webpage with more information on the situation. Additionally, they will offer users a chance to download their account data before they lose access. This approach aims to ease the transition for users if the app is restricted.

    Potential Consequences

    Regardless of the outcome on Sunday, a possible retaliatory ban from China affecting a US company like Micron might lead to negotiations between the involved parties soon. TikTok estimates that one-third of its 170 million US users would stop using the app if the ban lasts for a month, suggesting that there could be a resolution to this matter by mid-February, one way or another.

    Source:
    Link

    Tags: , ,
  • Bluesky’s Rise: Is It a Competitor to X Social Media?

    Bluesky’s Rise: Is It a Competitor to X Social Media?

    Bluesky, a newer microblogging site, has seen a huge increase in its number of users. Once just a quiet player behind X (previously known as Twitter), Bluesky has now stepped up as a strong option, especially as countless unhappy users are leaving Elon Musk’s controversial site. As of November 2024, Bluesky has gained over 20 million active users, which highlights both its attraction and its capability to change the social media scene.

    The Birth of Bluesky

    Started in 2022 by Jack Dorsey, who also helped create Twitter, Bluesky had a tough time getting noticed in a crowded market ruled by X and Facebook. It was made under AT Protocol, a decentralized tech for social media meant to give users greater control over their data and interactions. The aim was straightforward: to form a space where freedom of expression could flourish without the manipulation by algorithms that often plagues other platforms. Despite having a well-known supporter, Bluesky’s growth was initially sluggish.

    A Turning Point in 2024

    Everything shifted in 2024 when major incidents started to unfold in the realm of social media. X, under Musk’s management, has run into a number of issues, from changes in moderation rules to problems with user experience. These incidents opened up chances for competitors, and Bluesky took full advantage of the situation.

    Tags: , ,
  • Bluesky Won’t Use User Content to Train AI

    Bluesky Won’t Use User Content to Train AI

    Bluesky, the alternative social media platform to X (previously known as Twitter), recently declared that it will not utilize user content for training its AI systems. This statement coincided with the introduction of X’s revised terms and conditions.

    Changes in X’s Policies

    In the previous month, X revealed a number of updates to its overall terms and conditions. These new rules permit the platform to share customer information with third parties, who may employ it for focused advertising and AI model training.

    X’s modified terms feature significant penalties for external data miners—automated programs that gather user information. The platform specified that if an account is detected accessing 1 million posts within a single day, it would incur a fine of $15,000.

    Bluesky’s Commitment

    Bluesky affirmed that it will “not utilize any of your content to train generative AI, and have no plans to do so.” However, this does not prevent external crawlers—tools designed to index websites—from collecting data.

    "Just like robots.txt files don’t always stop outside companies from crawling those sites, the same situation applies here. Nonetheless, we wish to contribute to ensuring that outside organizations honor user consent and are actively engaging with our team on how to achieve this,” Emily Liu, a spokesperson for Bluesky, informed The Verge.

    Source: Link,Link

    Tags: , ,
  • Terms Update Allows X to Sell User Data to Third Parties

    Terms Update Allows X to Sell User Data to Third Parties

    The social media site X, which used to be called Twitter, has updated its general terms and conditions (T&Cs). Now, these terms permit the sharing of customer data with third parties. This allows X to sell user data to various companies, which can then utilize it for their own needs, like training their artificial intelligence systems.

    Changes Coming Soon

    These alterations to the T&Cs will take effect on November 15, 2024, and will automatically apply to all users. The new privacy policy mentions:

    “If you do not opt out, recipients of the information may in some cases use it for their own independent purposes, including, for example, to train their artificial intelligence models, in addition to the purposes specified in X’s Privacy Policy.”

    Criticism and Concerns

    X has faced backlash for its management of user data for a while now. In 2023, the firm, owned by Elon Musk of Tesla and SpaceX fame, was criticized by the EU Commission for breaching the General Data Protection Regulation (GDPR) and the Digital Services Act (DSA). This incident involved unlawful micro-targeting in political ads. The recent modifications to the terms and conditions are expected to intensify discussions about user data protection.

    Users can choose to object to their data being shared. However, this requires them to take action, which means they must be aware that their data is being shared in the first place. Even though there are still a few days until October 15, X has yet to disclose where users can find the opt-out option.

    New Measures Against Data Collectors

    Alongside the updates to the data protection policy, X is also putting stricter rules in place against external data harvesters. The new T&Cs will impose hefty fines for those using automated tools to gather large amounts of data from the platform. If an account is found to be viewing 1 million posts in a 24-hour period, it will incur a fine of $15,000, with the same penalty applying for each additional million posts viewed.

    Tags: , ,