"X, formerly Twitter, has been acquired by xAI, Elon Musk’s public-benefit AI corporation and the maker of AI chatbot Grok.

Musk, who bought the social platform in 2022, announced the deal in a post on X Friday afternoon. “xAI has acquired X in an all-stock transaction,” the billionaire wrote.

Musk claimed that the transaction will value xAI at $80 billion and X at $33 billion—or $45 billion minus $12 billion in debt."