India, March 29 -- Elon Musk on Friday announced that xAI has acquired X, platform formerly known as Twitter, in an all-stock transaction for $45 billion, including debt. The 53-year-old further added that the combined company would be valued at $80 billion.

"xAI and X's futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said in a post on X.

"The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge," he further added.

Musk, the richest person in the world, acquired Twitter in October 2022. The Tesla and SpaceX CEO completed the deal at an offer ...