Elon Musk’s artificial intelligence firm xAI has acquired his social media platform X in an all-stock transaction that values the company at $33 billion, including $12 billion worth of debt, the centibillionaire announced Friday. The sale comes just weeks after Musk reportedly raised an additional roughly $1 billion in debt financing for X that valued the company at $44 billion—the same price Musk paid for it three years ago.
“xAI and X’s futures are intertwined,” Musk wrote in an X post. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending
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