Elon Musk says xAI has acquired X in deal that values it at $33 billion

Elon Musk announced that xAI has merged with his social network X in an all-stock deal. This values xAI at $80 billion and X at $33 billion. Musk stated, “xAI and X’s futures are intertwined.”

He emphasized that the merger aims to combine their data, models, and talent, unlocking "immense potential" by integrating xAI’s technology with X’s extensive reach.

Musk previously acquired Twitter for about $44 billion in late 2022, implementing significant cost cuts and rebranding it as X.