Elon Musk’s xAI buys Elon Musk’s X for $33 billion on paper

A few years after buying Twitter for $44 billion, Elon Musk announced that his AI business xAI has acquired the social media platform X, formerly known as Twitter. In a tweet, he described it as an all-stock transaction, valuing xAI at $80 billion and X at $33 billion, including $12 billion in debt it had as part of his takeover. “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” writes Musk.

In response to a...