xAI acquires X in an all-stock deal valuing xAI at $80B and X at $33B

xAI

Elon Musk announced xAI acquired X in an all-stock transaction valuing xAI at $80B and X at $33B (including $12B debt from Musk's 2022 acquisition). The merger combines data, models, compute, distribution and talent. xAI's valuation rose 233% in under a year from $24B in spring 2024.

• All-stock deal: xAI valued at $80B, X at $33B; $12B of that is debt from Musk's 2022 Twitter acquisition
• X equity value $21B after debt; 25% depreciation from $44B Musk paid in 2022
• xAI valuation: $24B (spring 2024) → $50B (November 2024) → $80B (March 2025); 233% increase in under one year
• Combined company carries $113B valuation; merger adds data, models, compute, distribution, talent