Musk, the world’s richest person, on March 28 used his artificial intelligence startup, xAI, to purchase his social media platform in an all-stock deal that values X at $33 billion, not including debt.

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.

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