Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday. Both companies are privately held, which means they are not required to disclose their finances to the public. Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.” He said the deal values xAI at $80 billion and X at $33 billion. Musk bought the site then called Twitter for $44 billion in 2022. He launched xAI a year later.
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