Elon Musk Sells Social Media Platform ‘X’ To His Own AI Company

Musk took to 'X' to say 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 his social media site to his own artificial intelligence company.

The billionaire sold ‘X’ to ‘XAI’ in a $33 billion all-stock deal. Both companies are privately owned meaning they are not required to disclose their finances to the public.

Musk took to ‘X’ to say that the move will “unlock immense potential by blending XAI’s advanced AI capability and expertise with ‘X’s’ massive reach.”

The deal reportedly values ‘XAI’ at $80 billion and ‘X’ at $33 billion.

Musk first purchased the social media platform previously called ‘Twitter’ for $44 billion in 2022. He went on to cut staff, change policies on hate speech, misinformation and user verification and renamed it.

Musk then launched ‘XAI’ a year later. Now, the two company’s future’s will be intertwined as they are combining the data, models, distribution and talent.

“The combined company will deliver smarter, more meaningful experiences to billions of people,” Musk said.