Elon Musk sells X to xAI: What is xAI? What does it do? Who owns the company? EXPLAINED

In a surprise move, Elon Musk on Friday revealed that he had sold social media site X to xAI in a $33 billion deal. The artificial intelligence (AI) company has acquired X in an all-stock deal.

Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”