Although X (Twitter) is back up for many people, as many as 8,000 are still reporting outages on Downdetector — but Elon Musk, the CEO of X, is yet to provide any further updates on the “massive cyberattack” the platform is currently under.

Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday.

Musk, the owner of both companies, said the deal values the startup AI company at $80 billion and the social media platform at $33 billion.

Elon Musk's AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, in an all-stock deal.

What’s going on here? With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company.

The merger will “combine the data, models, compute, distribution and talent” of the two companies, according to Elon Musk. In particular, Grok AI is expected to expand on X.

The mogul said Friday that XAI had acquired the platform formerly known as Twitter in an all-stock transaction.

If you’re Elon Musk, you sell X to xAI. He did OK on the sale. In a Friday evening tweet on X, Elon Musk wrote that xAI had acquired X for $33 billion, or “$45 B less $12B debt.” In his tweet, Musk explained the rationale behind the deal.

Elon Musk made a shock announcement Friday that his artificial intelligence venture xAI has acquired his X social media platform in an all-stock transaction for $45 billion – a billion more than the mogul paid for the site in 2022.

Elon Musk's social media platform X (formerly Twitter) suddenly went down, causing problems for thousands of users. Users reported that they were unable to log to their accounts or view any posts. According to Downdetector,