What’s going on here? With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company.

A couple of years after buying Twitter, Elon Musk announced that his AI business xAI has acquired the social media platform that’s now known as X. In a tweet, he described it as an all-stock transaction, valuing xAI at $80 billion and X at $33 billion.

The companies are being combined in an all-stock deal that values xAI at $80 billion and X at $33 billion, factoring in the social network's $12 billion debt.

Elon Musk announced Friday that his company xAI is buying X, the social media platform formerly known as Twitter, in an all-stock deal. The transaction values xAI at $80 billion and X at $33 billion, according to CNBC.

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

Elon Musk's artificial intelligence company xAI acquired his social network X for $33 billion (and $12 billion of debt).

Musk attributed an earlier outage on the social media platform to a “massive cyberattack,” as experts disputed the claim.