Elon Musk is rebranding Twitter as X!

Elon Musk will change Twitter's name to X and gradually get rid of the blue bird logo. X will be "the future state of unlimited interactivity - focused on audio, video, messaging, payments/banking," according to recently hired CEO Linda Yaccarino. The announcement was made by the owner of the social media over the weekend, sparking a flurry of speculative tweets. According to the CEO, the updated platform will be "powered by AI".

The words "soon we shall bid adieu to the Twitter brand, and, gradually, all the birds" appeared in a late-night Saturday post. The x.com domain already points to twitter.com, and everything will go live in a few hours. Officials at the company have already said that Twitter Inc. has been renamed to X Corp. in the State of Nevada, with its headquarters located in San Francisco.

Since Musk took control Twitter following the completion of a $44 billion deal, changes have been ongoing. The owner reduced the company's staff from about 8,000 employees to barely 1,500, sacked the upper managers, and disbanded the board of directors. These actions, together with Musk's divisive views on free speech, caused a sharp decline in ad revenue.

The platform that will soon have a new name is still experiencing a 50% reduction in cash flow. The introduction of Twitter Blue, which allowed anyone to pay $8/mo for a fancy blue tick that says "Verified" and gives extra functionality like editing tweets, a greater character limit, and ad revenue income, was one of the initiatives to get money back on the table.