Elon Musk sells X to his own xAI for $33 billion in all-stock deal

Elon Musk has sold societal media tract X to his ain xAI artificial quality institution successful a $33 cardinal all-stock deal, the billionaire announced connected Friday.

Both companies are privately held, which means they are not required to disclose their finances to the public.

Musk said successful a station connected X that the determination volition "unlock immense imaginable by blending xAI's precocious AI capableness and expertise with X's monolithic reach." He said the woody values xAI astatine $80 cardinal and X astatine $33 billion. Musk, who serves arsenic CEO of Tesla and SpaceX arsenic good arsenic an advisor to President Donald Trump, bought the tract past called Twitter for $44 cardinal successful 2022, gutted its unit and changed its policies connected hatred speech, misinformation and idiosyncratic verification and renamed it X.

MORE: Elon Musk announces caller institution xAI

He launched xAI a twelvemonth later.

"xAI and X's futures are intertwined. Today, we officially instrumentality the measurement to harvester the data, models, compute, organisation and talent. This operation volition unlock immense imaginable by blending xAI's precocious AI capableness and expertise with X's monolithic reach," Musk wrote connected X. "The combined institution volition present smarter, much meaningful experiences to billions of radical portion staying existent to our halfway ngo of seeking information and advancing knowledge."

It's not wide if the determination volition alteration thing for X users -- xAI already uses information from X idiosyncratic posts to bid its artificial quality models and paying X users person entree to its AI chatbot, Grok, portion nonpaying users tin inquire the chatbot 10 questions each 2 hours.