Musk’s decision to merge the businesses is a win for X investors, who have endured more than two years of uncertainty since his takeover as advertisers and users abandoned the social network.

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.

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this