Elon Musk has sold social media site X to his own xAI artificial intelligence company in a USD 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.

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.' He said the deal values xAI at USD 80 billion and X at USD 33 billion.