Elon Musk today said he has merged X and xAI in a deal that values the social network formerly known as Twitter at $33 billion. Musk purchased Twitter for $44 billion in 2022.

xAI acquired X “in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” Musk wrote on X today.

X and xAI were already collaborating, as xAI’s Grok is trained on X posts. Grok is made available to X users, with paying subscribers getting higher usage limits and more features.

“xAI and X’s futures are intertwined,” Musk wrote. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

Musk said the combined company will “build a platform that doesn’t just reflect the world but actively accelerates human progress.”

xAI and X are privately held. “Some of the deal’s specifics were not yet clear, such as whether investors approved the transaction or how investors may be compensated,” Reuters wrote.

The reported value of the company formerly called Twitter plunged under Musk’s ownership. Fidelity, an X investor, valued X at less than $10 billion in September 2024. But X’s value rebounded at the same time that Musk gained major influence in the US government with the inauguration of President Donald Trump.

On the AI front, Musk has also been trying to buy OpenAI and prevent the company from completing its planned conversion from a nonprofit to for-profit entity.