What does one transistor equate to in bits?

There’s no fixed conversion. One transistor doesn’t automatically equal one bit.

In the simplest case, one transistor can help represent a bit by being on or off. But to reliably store that bit, it needs other parts. For example, a common RAM cell uses one transistor plus one capacitor to store one bit.

So “one transistor = one bit” is a useful first picture of a switch, but it isn’t how you count a computer’s bits.