xAI has acquired social media platform X (formerly Twitter) for $33 billion in an all-stock transaction which values xAI at $80 billion and X at $33 billion ($45B less $12B debt).
The deal was announced by Elon Musk on X.
According to Musk, the combination of xAI and X will unlock "immense potential" by blending xAI’s advanced AI capability and expertise with X’s massive reach.
"The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge. This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress," Musk said.
Musk paid $44 billion for Twitter when he bought it in October 2022.