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.

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

Elon Musk said Friday that his artificial intelligence startup, xAI, had acquired his social media platform, X. He said that the deal was an all-stock transaction that valued X at $33 billion.