Elon Musk has announced the acquisition of X, previously known as Twitter, by his artificial intelligence startup xAI in a significant deal valued at $33 billion.

Recent developments indicate that further changes are on the horizon for the platform that was once Twitter.

Musk, who purchased Twitter in 2022 and rebranded it as X the following year, disclosed that xAI has successfully acquired the platform in a lucrative all-stock transaction.

In a post on X dated March 28, Musk stated, “This merger values xAI at $80 billion and X at $33 billion, accounting for $12 billion in debt.” He noted that since its inception two years ago, xAI has quickly established itself as a leading AI laboratory, developing models and data centers at an unprecedented pace and scale.

He added, “X serves as the digital town square for over 600 million active users seeking real-time information, and in the past two years, it has evolved into one of the most efficient companies globally, positioning itself for scalable growth in the future.”

More than a year after the launch of Grok—an AI chatbot developed by xAI that resembles ChatGPT—Musk indicated that it is now the right moment to integrate the data, models, computing resources, distribution, and talent.