Elon Musk’s AI Company xAI Buys Elon Musk’s Social Media Platform X

Elon Musk announced Friday that his company xAI is buying X, the social media platform formerly known as Twitter, in an all-stock deal. The transaction values xAI at $80 billion and X at $33 billion, according to CNBC.

“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),” Musk tweeted Friday evening. 

Musk purchased Twitter in October 2022 for about $44 billion,…