Musk, the owner of both companies, said the deal values the startup AI company at $80 billion and the social media platform at $33 billion.

If you’re Elon Musk, you sell X to xAI. He did OK on the sale. In a Friday evening tweet on X, Elon Musk wrote that xAI had acquired X for $33 billion, or “$45 B less $12B debt.” In his tweet, Musk explained the rationale behind the deal.

Elon Musk's AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, in an all-stock deal.