What is xAI? Elon Musk-owned AI company that just bought X for $33 billion

In a groundbreaking move, Elon Musk‘s artificial intelligence firm, xAI, has acquired X, the social media platform formerly known as Twitter, for $33 billion. The entire $45 billion deal includes $12 billion in debt, effectively merging two of Musk’s portfolio companies to create an AI-integrated microblogging platform. Musk announced the merger via a post on X, stating, “The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).”