Elon Musk—who purchased Twitter in 2022 and renamed the social media platform to X in 2023—disclosed that his AI venture xAI has obtained the brand in a profitable, all-stock transaction.

“The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” Musk wrote in a March 28 post to X. “Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale.”

He went on, “X serves as the digital town square for over 600 million active users seeking the real-time source of ground truth. Over the past two years, it has evolved into one of the most efficient companies globally, setting the stage for scalable future growth.”

Elon stated that it was officially time to “take the step to combine the data, models, compute, distribution and talent” more than a year after Grok—an AI-powered chatbot created by xAI similar to ChatGPT—was launched on X.

He explained, “The futures of xAI and X are linked.” “The merged company will provide billions of people with smarter and more significant experiences, all while remaining committed to our fundamental mission of pursuing truth and promoting knowledge. With this, we will be able to create a platform that not only mirrors the world but also propels human advancement.

In his message, the CEO of Tesla concluded with thanks to the teams of both companies for their commitment and efforts, adding, “This is just the beginning.”

Following Musk’s announcement, X CEO Linda Yaccarino affirmed his perspective by sharing his update with her own commentary, stating, “The future could not be brighter.”

Regarding the sentiment of X users toward the business deal? Chirping was heard everywhere.

“I’m really curious why X merged into xAI instead of the other way around,” one user commented. “X appears to have a broader base as a platform, while xAI would merely be a medium/small feature on X.”

Another person simply remarked, “Wow. Didn’t expect this.