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Elon Musk Says His AI Firm Has Acquired X In All-Stock Deal Valuing Social Media Platform At $33 Billion

Elon Musk's artificial intelligence firm xAI acquired X in an all-stock deal valuing the social media company at $45 billion, minus $12 billion in debt.

After he dramatically overhauled its operations, shrinking its staff to a fraction of its previous size and relentlessly tinkering with its algorithm and monetization models, X lost a significant amount of value. In a post on X announcing the deal, Musk called the social media outlet “one of the most efficient companies in the world.” He added that xAI and X’s futures “are intertwined. The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge.”

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