Billionaire tech mogul Elon Musk's X (formerly known as twitter) is now sold to his his own startup venture xAI in an all-stock deal valued at $33 billion.

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.

The acquisition was an all-stock transaction for $45 billion with the combined company now valued at $80 billion, according to Elon Musk.

Elon Musk says that his AI venture xAI has acquired his social media platform X, formerly known as Twitter. In an X post Friday, Musk said the all-stock transaction values xAI at $80 billion and X at $33 billion.

Elon Musk just sold X, the social network formerly known as Twitter, to himself? Well, kind of. Musk, in a post on X Friday, said that his artificial-intelligence company, xAI, has acquired X in an all-stock transaction that values X at $33 billion ($45 billion minus $12 billion in debt).

Elon Musk’s artificial-intelligence startup xAI has acquired X, the social-media platform he also owns, in an all-stock deal that assigns the new enterprise a lofty valuation.

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 $80 billion and X at $33 billion.

Elon Musk's AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, in an all-stock deal.