Elon Musk founded xAI in 2023, and he is the primary owner and driving force behind the company. xAI is a private company focused on building AI.

Elon Musk said in a post on X that the move will “unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

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

Elon Musk just sold X, the social network formerly known as Twitter, to himself? Well, kind of. Musk, in a post on X Friday, said that his artificial-intelligence company, xAI, has acquired X in an all-stock transaction that values X at $33 billion ($45 billion minus $12 billion in debt).

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

Elon Musk said his xAI artificial intelligence startup has acquired the X platform, which he also controls, at a valuation of US$33 billion, marking a surprise twist for the social network formerly known as Twitter.