Save MEMPHIS, Tenn. - Elon Musk has sold social media giant X, formerly Twitter, to one of his other businesses: artificial intelligence company xAI, which houses the world's largest supercomputer, Colossus, in southwest Memphis. "xAI has acquired X in an all-stock transaction," Musk posted to X Friday. "The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt)." Musk said the acquisition was for the purpose of intertwining their futures. "Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said. "This combination will unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach." "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," Musk continued. "This will allow us to build a platform that doesn't just reflect the world but actively accelerates human progress." Download the FOX13 Memphis app to receive alerts from breaking news in your neighborhood. CLICK HERE TO DOWNLOAD