Elon Musk says that his AI venture xAI has acquired his social media platform X, formerly known as Twitter. In an X post Friday, Musk said the all-stock transaction values xAI at $80 billion and X at $33 billion. Musk paid $44 billion for Twitter in 2022.

The social media platform X, formerly known as Twitter, appeared to be down for many users Friday afternoon, according to DownDetector, an online site that monitors websites and services. About 56,000 outages have been reported in the past 30 minutes, according to the site.

Elon Musk on Friday announced he has sold his social media platform X to his artificial intelligence company, xAI, in an all-stock transaction valued at $33 billion plus $12 billion in debt.