Elon Musk's AI company xAI buys AI video generation startup Hotshot

Elon Musk's AI company xAI has acquired video startup Hotshot, which has developed three video generation models over the past two years: Hotshot-XL, Hotshot Act One and Hotshot. The startup says it's "excited to continue scaling these efforts on the world's largest cluster, Colossus, as part of xAI." The company's own service has been shut down. Existing users will be able to download their videos through the end of March.