Elon Musk’s artificial-intelligence startup xAI has acquired X, the social-media platform he also owns, in an all-stock deal that assigns the new enterprise a lofty valuation.

The all-stock deal values xAI at $80 billion and X at $33 billion, according to Musk’s post. The billionaire has increasingly linked the two companies, wielding user data from X to train its AI models.

Elon Musk's artificial intelligence company xAI acquired his social network X for $33 billion (and $12 billion of debt).