Doha: Elon Musk, founder of SpaceX, announced that his artificial intelligence startup, xAI, has acquired the social media platform X in a deal valued at approximately US33 billion.

According to Qatar News Agency, in a post on X, Musk stated that the acquisition aims to integrate advanced AI capabilities with the platform's extensive reach, describing the move as one that unlocks immense potential by combining xAI's expertise with X's vast user base.

Musk emphasized that merging the two companies represents a step toward formal integration of data, models, computing, distribution, and talent, with the goal of building a platform that not only reflects the world but actively accelerates human progress.

Musk acquired X (formerly Twitter) in late 2022 for US44 billion in a deal that included significant debt. He subsequently launched xAI the following year, investing billions in advanced Nvidia chips to bolster his AI projects.