Business

Elon Musk’s xAI buys social media platform X for $45B: ‘Futures are intertwined’

March 28, 2025

Elon Musk said Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including debt.

“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said in a post on X, adding that the combined company would be valued at $80 billion.

Elon Musk said his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including debt. REUTERS

Musk said the combined company would be valued at $80 billion. gguy – stock.adobe.com

The billionaire’s AI startup, which was launched in 2023, recently raised $6 billion from investors at a valuation of $40 billion, sources have told Reuters.

This is a developing story. Please check back for updates.

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Wesley Scott

Wesley Scott is a seasoned business journalist with a knack for breaking down complex financial matters and corporate trends. With a background that includes seven years working on Wall Street, Wesley brings insider knowledge to his reporting, offering readers both depth and clarity. His articles cover a wide range of topics, from market trends and corporate leadership changes to business ethics and the impact of global events on industries. Known for his ability to identify emerging patterns in the business world, Wesley’s writing serves as a reliable resource for professionals and curious readers alike. Whether covering shifts in consumer behavior or unraveling the dynamics of corporate mergers, Wesley's work ensures his audience stays ahead of the curve.