Elon Musk’s AI startup acquires X in deal that values social media platform at $33 billion

Elon Musk said Friday that his AI startup, xAI, had acquired his social media platform, X.

Musk said that the deal was an all-stock transaction that valued X at $33 billion.

“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk wrote.

X recently raised $1 billion from investors, valuing it at $44 billion, according to Bloomberg. Musk took X (then Twitter) private in 2022 at nearly the same valuation.