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xAI Acquires Twitter for $33 Billion; CoreWeave's Nasdaq Debut Values it at $23 Billion

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Key Takeaways

  • xAI acquired X (Twitter) for $33B in stock, valuing xAI at $80B.
  • CoreWeave, backed by Nvidia, valued at $23B in Nasdaq debut; Nvidia invests $250M.
  • OpenAI must transition to for-profit by year-end to raise $40B.
  • Amazon Photos added a shopping feature using image recognition for direct purchases.
  • Google Photos gets dark mode on the web via Settings > Appearance.

X & AI Developments

xAI acquires X (Twitter) for $33 billion.

On March 28-29, 2025, Elon Musk's xAI acquired X (formerly Twitter) in an all-stock deal. The deal values the social media platform at $33 billion, with a total deal value of $45 billion including debt, valuing xAI at $80 billion. The acquisition aims to combine xAI's AI capabilities with X's user base.

White House involved in TikTok deal talks.

On March 28, 2025, Reuters reported that the White House has been significantly involved in the deal talks regarding TikTok. The White House is effectively acting as an investment bank in these negotiations.

TikTok briefly went dark in the U.S. in January.

On March 28, 2025, it was reported that TikTok briefly went dark in the U.S. in January after the Supreme Court upheld the ban. However, it returned after U.S. President Donald Trump postponed enforcement of the law to April 5.

X fortunes improve after Trump re-election.

Social platform X fortunes improved dramatically after US President Donald Trump won reelection and will become part of Musk's AI startup xAI.

India criticizes X for calling compliance website censorship tool.

On March 28, 2025, India criticized X for referring to its compliance website as a censorship tool, reflecting ongoing tensions between the platform and the Indian government regarding content regulation.

Saudi investor anticipates $4-5B X and xAI investment.

On March 28, 2025, Saudi Arabian investor Prince Alwaleed bin Talal stated his companies are the second-largest investors in X and xAI. He anticipates their investments to reach $4-$5 billion after the deal.

X's $45B price tag exceeds 2022 take-private transaction.

On March 28, 2025, D.A. Davidson analyst Gil Luria noted that the $45 billion price tag for X, including debt, was $1 billion higher than the take-private transaction for Twitter in 2022.

Brands return to X amid Musk's Trump administration influence.

Reported on March 28, 2025, after Musk bought Twitter, the company's workforce was reduced, causing advertisers to leave and revenue to decline. Recently, brands have been returning to X as Musk's influence in the Trump administration grows.

Banks sell $13B X debt after two years.

Reported on March 28, 2025, the seven banks that extended $13 billion in loans to Musk to buy X kept the debt on their books for two years. They were able to sell it all at once last month, due to increased investor interest in AI companies and X's improved operating performance.

Financial Tech Ticker

CoreWeave valued at $23 billion in Nasdaq debut.

On March 28, 2025, CoreWeave, an Nvidia-backed cloud services provider, was valued at $23 billion in a muted Nasdaq debut. Nvidia will anchor the IPO with a $250 million order, and OpenAI will make a private placement of $350 million in shares.

OpenAI needs for-profit transition by year-end to raise $40B.

On March 28, 2025, it was reported that OpenAI must complete its transition to a for-profit company by the end of the year. This transition is necessary for the company to raise the full $40 billion it seeks.

Scale AI seeks valuation up to $25 billion.

On March 28, 2025, Scale AI is reportedly seeking a valuation as high as $25 billion in a potential tender offer, according to Business Insider.

Blackstone considers stake in US TikTok spinoff.

On March 28, 2025, Blackstone is considering a small stake in a US TikTok spinoff. They are in discussions to join ByteDance's non-Chinese shareholders to dilute Chinese ownership below 20%, as required by U.S. law, with a deadline for ByteDance to divest TikTok by April 5.

Wolfspeed shares hit 27-year low.

On March 28, 2025, shares of Wolfspeed, a U.S. power chip maker, hit a 27-year low. This decline is attributed to uncertainty surrounding federal funding for the company.

Software Central

Amazon Photos adds shopping feature using image recognition.

On March 28, 2025, Amazon announced that Amazon Photos added a shopping feature. This feature uses image recognition to identify products in photos and provide shopping links, allowing users to purchase items directly from Amazon.

Google Photos gets dark mode on the web.

On March 28, 2025, Google Photos added dark mode on the web. Users can access this feature via Settings > Appearance to change the theme.

Windows 11 closing loophole to skip Microsoft account.

Reported on March 28, 2025, Windows 11 is closing a loophole that previously allowed users to bypass creating a Microsoft account during setup, requiring users to sign in with a Microsoft account.

Microsoft tests Quick Machine Recovery for unbootable PCs.

On March 28, 2025, Microsoft is testing Quick Machine Recovery. This feature aims to restore PCs that are unable to boot, providing a recovery solution for users experiencing startup issues.

AI Breakthroughs

Google debuts AI weather forecasts across Africa.

On March 28, 2025, Google launched AI-enabled weather forecasts across Africa. These short-term rain forecasts are available in Search, providing users with timely weather information.

Anthropic built AI’s most upstanding citizen, Claude.

Tech Horizons

'Tesla Takedown' movement plans global protests.

On March 29, 2025, the 'Tesla Takedown' movement is planning a global day of action with at least 213 protests worldwide, objecting to Elon Musk’s role in slashing government spending. President Donald Trump has labeled attacks on Tesla as “domestic terrorism,” and Attorney General Pam Bondi has pledged to prosecute those coordinating and funding these actions.

Gadget Mania

Ploopy upgrades open-source trackball with better scrolling.

On March 27, 2025, Ploopy upgraded its open-source trackball with improved scrolling functionality. The Ploopy Classic 2 is available as a fully assembled trackball or as a cheaper DIY kit for enthusiasts.

Amazon's Big Spring Sale: Best deals under $30.

On March 28, 2025, The Verge updated an article highlighting 30 of the best deals under $30 from Amazon's Big Spring Sale, which ran through March 31st. The deals included various tech gadgets and other products from Amazon and Woot.

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