Elon Musk sold X (formerly Twitter) to his own company xAI for $33 billion, iXBT reported.
Elon Musk’s artificial intelligence company xAI has officially acquired the social media platform X, formerly known as Twitter, for $33 billion. The deal aims to integrate the two companies and enhance the development of xAI’s Grok language model.
Announcing the move on X, Musk wrote:
"The merger is valued at $80 billion, with X estimated at $33 billion ($45B minus $12B in debt). AI and the future of X are intertwined. Today we officially begin merging data, models, compute, distribution, and talent."
Commenting on an image generated by AI, Musk added: “Nice work, guys.”
Representatives of both X and xAI have not responded to Reuters’ requests for comment. Key details of the deal remain unclear, such as how investors will be compensated, how leadership structures will be integrated, or how regulators will respond.
PP Foresight analyst Paolo Pescatore remarked:
"This development feels surprising and somewhat unexpected. In many ways, it closes a dramatic chapter in the X saga."
For reference, Musk acquired Twitter on October 27, 2022, and subsequently rebranded and restructured it as X.
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