Elon Musk's artificial intelligence company xAI has acquired his social media platform X in an all-stock transaction. The deal values xAI at $80 billion and X at $33 billion, according to an announcement Musk made on X on Friday.

The all-stock deal values xAI at $80 billion and X at $33 billion, according to Musk’s post. The billionaire has increasingly linked the two companies, wielding user data from X to train its AI models.

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