What does Acts 2:33 mean?

Peter is explaining to a crowd in Jerusalem how Jesus of Nazareth fulfills the prophecy David gave in Psalm 16:8–11 and how Jesus' followers have just received the Holy Spirit in fulfillment of Joel 2:28.

Unlike David, who died and is still in a grave in Jerusalem (Acts 2:29), Jesus died and rose again, as David foresaw in Psalm 16:10. Jesus affirmed to the Sanhedrin during His late-night trial that He would be seated "at the right hand of the power of God" (Luke 22:69) and Stephen will later see Him there as he dies (Acts 7:55–56).

To be "exalted" is to be lifted up by another. Jesus did not place Himself at God's right hand. Paul explains that He didn't try to take God's position or glory. He humbled Himself to the point of death in the most humiliating, dishonoring way. It was God who exalted Jesus (Philippians 2:5–11).

The wording about the promise of the Holy Spirit is a bit awkward. Jesus did not receive the Holy Spirit; He received a promise from God the Father that the Holy Spirit would come upon Jesus' followers. In John 14:16, Jesus says, "And I will ask the Father, and he will give you another Helper, to be with you forever." Jesus' 120 followers in Jerusalem have just received the Holy Spirit this morning (Acts 2:1–4).

The Holy Spirit was poured out on Jesus' followers and then poured out of them in the ability to speak in different languages. The crowd that Peter is speaking to is comprised of men from regions such as Mesopotamia, Cappadocia, Egypt, Libya, Rome, the island of Crete, and Arabia. They are amazed to hear a group of Galileans speaking in their home dialects. Some derisively declared they were drunk (Acts 2:4–13). Peter explains that it is the Spirit that is pouring out and filling them, not wine.