From Fox Business: Elon Musk’s artificial intelligence company xAI has acquired the tech billionaire’s social media platform X in a blockbuster deal that values X at $33 billion.
The Tesla and SpaceX CEO made the announcement on the social media platform on Friday and said the deal was an all-stock transaction that will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.
He said the combination values xAI at $80 billion and X at $33 billion, or $45 billion less than its $12 billion debt.
Musk, the world’s richest man, purchased X, formerly known as Twitter, for $44 billion in 2022 to roll back censorship on the platform while also stating that it was underutilized.
Below is Musk’s announcement:
@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).
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.
X is the digital town square where more than 600M active users go to find the real-time source of ground truth and, in the last two years, has been transformed into one of the most efficient companies in the world, positioning it to deliver scalable future growth.
xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach. The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge. This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.
I would like to recognize the hardcore dedication of everyone at xAI and X that has brought us to this point. This is just the beginning.
Thank you for your continued partnership and support.
@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).
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…
— Elon Musk (@elonmusk) March 28, 2025
X CEO Linda Yaccarino added in a post, “.@X + @xAI. The future could not be brighter ✨.”
.@X + @xAI
The future could not be brighter ✨ https://t.co/GoJE99KxxI— Linda Yaccarino (@lindayaX) March 28, 2025
Follow us on X (Formerly Twitter.)
The DML News App: www.X.com/DMLNewsApp
The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
