Musk says his xAI startup bought X at $33 billion valuation

Billionaire Elon Musk said his xAI artificial intelligence startup has acquired the X platform at a valuation of $33 billion, marking a surprise twist for the social network formerly known as Twitter. 

“The combination values xAI at $80 billion and X at $33 billion,” he wrote in an X post on Friday. The X value is $45 billion when including $12 billion of debt, he said. It was an all-stock transaction.

“xAI and X’s futures are intertwined,” he said. “Today, we officially take the step to combine the data...