Elon Musk's artificial intelligence company xAI has acquired the social media platform X.

Elon Musk announced that his artificial intelligence venture, xAI, has acquired the X platform he controls for a valuation of $33 billion. In a post from his X account, Musk stated, "The merger values xAI at $80 billion and X at $33 billion." Including $12 billion in debt, he noted that X's effective valuation is $45 billion, defining the acquisition as a purely stock transaction.

According to a source familiar with the deal, who requested anonymity due to the confidentiality of the terms, the agreement provides a valuation exceeding $100 billion for the new combined entity, XAI Holdings, excluding debt. It is reported that Morgan Stanley (NYSE:MS) acted as the sole banker in the transaction, representing both parties. Musk has thus solidified the relationship between the former Twitter and xAI, which utilizes social network data to develop chatbots.