Elon Musk’s latest move might sound a bit like a math problem.

In a Friday afternoon message on his social media network X, the Tesla (TSLA) CEO said his artificial intelligence company, xAI, had acquired X in an all-stock transaction. The deal values the companies at $80 billion and $33 billion respectively, the latter number which he said reflects a $45 billion value for X and $12 billion of debt. 

Those figures are in line with a recent Bloomberg report of about $1 billion in fundraising at X. Musk’s 2022 acquisition of Twitter, which he renamed X, valued the company at $44 billion. 

“xAI and X’s futures are intertwined,” Musk wrote Friday. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

Musk’s stated valuation for X, which he said has more than 600 million active users, compares with Visible Alpha’s estimates of about $20 billion for Reddit (RDDT) and more than $15 billion for Snap (SNAP). Tech giant Meta Platforms’ (META) estimated market cap is above $1.5 trillion. 

Musk’s other companies include SpaceX, Neuralink and The Boring Company.