Musk said that xAI has acquired the social-media platform in an all-stock deal valuing the AI company at $80 billion and X at $33 billion.

Tech billionaire Elon Musk announced on Friday that his artificial intelligence startup, xAI, acquired X in an all-stock transaction that values the combined company at $113 billion. The deal values xAI at $80 billion and X at $33 billion ($12 billion in debt subtracted from $45 billion),