Elon Musk has announced that his artificial intelligence company, xAI, has bought social media platform X in an all-stock deal worth $33 billion. The deal values xAI at $80 billion. Since both companies are private, they do not have to share their financial details with the public.

Musk posted on X that merging xAI's advanced AI technology with X's large user base will create huge opportunities. He believes this move will improve the platform and make it smarter and more useful for billions of people.

Musk originally bought X, then called Twitter, for $44 billion in 2022. He made big changes, including reducing staff and updating policies on speech, misinformation, and user verification. A year later, he started xAI.

He stated that xAI and X will now work closely together by combining their data, computing power, and expertise. He hopes this will help people find truth and knowledge more easily. The goal of the new company is to improve online experiences while staying committed to these values.