Elon Musk announced on the morning of the 29th that AI company XAI has acquired X, formerly known as Twitter. The all-stock acquisition values ​​XAI at $80 billion and X at $33 billion. X's valuation is said to be $45 billion minus $12 billion in debt.

According to Musk's announcement, "XAI and X's futures are inextricably linked. Today we are formally taking the step to combine our data, models, compute power, distribution network, and talent," and that the merger will "combine XAI's advanced AI capabilities and expertise with X's vast reach..."