Elon Musk sells X to his own xAI for 33 billion dollars in all-stock deal

Elon Musk bought the site then called Twitter for 44 billion dollars (£34 billion) in 2022 (Noah Berger/AP)

Elon Musk has sold social media site X to his own xAI artificial intelligence company in a 33 billion dollar (£25.5 billion) all-stock deal, the billionaire announced.

Both companies are privately held, which means they are not required to disclose their finances to the public.