Elon Musk has bought X…to himself.

On Friday (March 28), the 53-year-old tech billionaire introduced on the social media platform, previously generally known as Twitter, that he has bought X to his synthetic intelligence startup firm xAI in a deal price $33 million.

Hold studying to seek out out extra…“The mix values xAI at $80 billion and X at $33 billion ($45B much less $12B debt),” Musk wrote. “Since its founding two years in the past, xAI has quickly grow to be one of many main AI labs on the earth, constructing fashions and knowledge facilities at unprecedented pace and scale.”

He continued, “X is the digital city sq. the place greater than 600M lively customers go to seek out the real-time supply of floor reality and, within the final two years, has been remodeled into one of the vital environment friendly firms on the earth, positioning it to ship scalable future development.”

Greater than a yr after Grok, an AI-powered chatbot created by xAI that’s much like ChatGPT, was launched on X, Musk stated that it was formally time to “take the step to mix the info, fashions, compute, distribution and expertise.”

“xAI and X’s futures are intertwined,” he defined. “The mixed firm will ship smarter, extra significant experiences to billions of individuals whereas staying true to our core mission of looking for reality and advancing data. It will permit us to construct a platform that doesn’t simply mirror the world however actively accelerates human progress.”

Musk ended his message by thanking the groups from each firms for his or her exhausting work and dedication, writing, “That is only the start. Thanks to your continued partnership and assist.”

When you have been unaware, Musk acquired Twitter in October 2022 and rebranded the platform to X in July 2023.

Late final yr, dozens of celebrities left X and joined a rival social media platform.