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AI Daily Brief — 28 March 2025

The biggest M&A day of the AI year so far. Musk consolidated xAI and X into a single $113B holding company, CoreWeave finally landed on the public market — at a sharply discounted price after NVIDIA bailed out the offering — and OpenAI publicly throttled its viral image generator as demand outran compute.

Top stories

  • xAI acquires X in all-stock merger — $113B combined valuation. Musk announced via X post that xAI acquired X, valuing xAI at $80B and X at $33B ($45B less $12B debt). A new parent, xAI Holdings Corp., consolidates both businesses. Musk framed it as combining ‘data, models, compute, distribution and talent’ — Grok was already running on X infrastructure. via CNBC
  • CoreWeave (CRWV) debuts on Nasdaq — biggest US tech IPO since 2021. Opened at $39, closed flat at the $40 IPO price after pricing 37.5M shares (raising $1.5B) below the expected $47-$55 range. NVIDIA anchored with a $250M order at $40 — a salvage move. Largest US tech IPO since UiPath in 2021. via CNBC
  • Sam Altman: ‘our GPUs are melting.’ Altman posted that 4o image generation demand was overwhelming OpenAI’s GPUs. Temporary rate limits introduced; ChatGPT Free tier promised 3 generations per day ‘soon.’ Comes three days after the viral 4o image-gen launch and Studio Ghibli trend. via Fortune
  • xAI/X merger primary source — Musk’s X post. ‘xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).’ via X
  • NVIDIA’s anchor purchase salvages downsized CoreWeave IPO. Stepping in with $250M at $40 — well below the $47-$55 marketing range — underscored fragile investor appetite for AI-infra IPOs even as CoreWeave’s revenue from Microsoft and NVIDIA surged. The deal was reduced from earlier $2.7B-raise expectations. via CNBC

Who shipped

No major model launches. xAI swallowed X; CoreWeave went public; OpenAI spent the day publicly managing 4o image-gen demand. Bloomberg, Washington Post, Axios and Sullivan & Cromwell (xAI’s counsel) all confirmed the $113B transaction structure under xAI Holdings Corp.

Open-source pulse

No major open-weights drops dated Mar 28. The community kept benchmarking DeepSeek-V3-0324 and Qwen2.5-Omni-7B from earlier in the week.

Money, infra & hardware

The xAI/X merger lets early X investors (who took a haircut on the original $44B Twitter price) participate in xAI upside. CoreWeave’s price-cut IPO frames a public-market reality check on AI-infra equity.

Quiet corners

Anthropic, Google, Meta and the China labs all quiet on the day. No notable arxiv landmark.

By the numbers

  • $113B — xAI Holdings combined valuation; xAI $80B / X $33B
  • $45B less $12B debt — X equity value in the deal
  • $40 / $1.5B / 37.5M shares — CoreWeave IPO price / raise / share count
  • $250M — NVIDIA anchor order in CoreWeave IPO
  • 3 — promised Free-tier daily image generations once free rollout unblocks
  • Most-mentioned company: xAI

Compiled by AI Feed’s editor from verified web sources for 28 March 2025.