Elon Musk sells X social media platform to his artificial intelligence startup xAI for $33 billion

Elon Musk announced on Friday that his artificial intelligence startup, xAI, has merged with his social media platform, X, in an all-stock deal valuing xAI at $80 billion and X at $33 billion.

“xAI and X’s futures are intertwined,” Musk wrote in a post on X. “Today, we officially take the step to combine data, models, compute, distribution, and talent.” He added that the merger would “unlock immense potential by blending xAI’s advanced AI expertise with X’s massive reach.” The deal was valued at $45 billion, with $12 billion in debt.