Elon Musk's artificial intelligence company, xAI, has acquired X, formerly known as Twitter, in an all-stock deal.
The acquisition values xAI at $80 billion and X at $33 billion, including debt of $12 billion.
The combination aims to combine xAI's advanced AI capability with X's massive reach to deliver improved experiences to users.
Musk originally purchased Twitter in 2022 and has faced criticism for changes to content moderation and its impact on the platform's value and direction.