Elon Musk Sells X To His Ai Company

Elon Musk has sold the social media platform X to his own artificial intelligence company in a 33 billion all-stock transaction.

Musk made the announcement on Friday via a post on X, saying his AI company has become one of the leading AI labs in the world.

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, he said.

Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale.

Musk, who serves as CEO of Tesla and SpaceX as well as an advisor to President Donald Trump, bought X formerly known as Twitter for 44 billion in 2022,