Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion. „xAI and X’s futures are intertwined,” Musk wrote in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”
CLCchampion on
I just bought an apple from myself, paid $100 for it. The apple I have is valued at $100.
bored-coder on
Nothing to do with geopolitics..?
tasartir on
So basically he used investor’s money to unload his personal problem on someone else.
GYN-k4H-Q3z-75B on
This is more convoluted than it has to be. To say that some company acquired the other when both companies are siblings owned by the same entity may technically be truthful, but the implication for valuations is more than doubtful. Elon could arbitrarily change valuation then by buying his own company over and over again. Today it’s $1, tomorrow $100 billion. In reality, it’s just a paper move.
coolcosmos on
No one cares about xAI. They’re not relevant.
HardlyDecent on
So…some sort of money laundering going on. Or is he making room for Tiktok?
Ginor2000 on
So he span Xai out from X. Valued Xai at twice the value of X.
Then used Xai to absorb X back into combined X and somehow…profited?
Is that correct?
-------7654321 on
So a huge increase in AI driven bot posts that all love Tesla. Got it.
pink_tshirt on
Twitter is so nice Elon bought it twice
International_Dot_97 on
The deal stinks worse than rotting fish!
Spaghetti_Nudes on
Where’s the guy with monocle when you need him
StrathGoose on
Bought Twitter for $44 Billion. Sold it to investors for $33 Billion. Congrats on flopping 👏
Thiscouldbeeasier on
The entire point is to get Musk’s Tesla share removed as the collateral guarantee for the Twitter purchase.
Left_Imagination2677 on
How much will Musk could claim this 10B+ loss as his tax credit?
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Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion. „xAI and X’s futures are intertwined,” Musk wrote in a post on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”
I just bought an apple from myself, paid $100 for it. The apple I have is valued at $100.
Nothing to do with geopolitics..?
So basically he used investor’s money to unload his personal problem on someone else.
This is more convoluted than it has to be. To say that some company acquired the other when both companies are siblings owned by the same entity may technically be truthful, but the implication for valuations is more than doubtful. Elon could arbitrarily change valuation then by buying his own company over and over again. Today it’s $1, tomorrow $100 billion. In reality, it’s just a paper move.
No one cares about xAI. They’re not relevant.
So…some sort of money laundering going on. Or is he making room for Tiktok?
So he span Xai out from X. Valued Xai at twice the value of X.
Then used Xai to absorb X back into combined X and somehow…profited?
Is that correct?
So a huge increase in AI driven bot posts that all love Tesla. Got it.
Twitter is so nice Elon bought it twice
The deal stinks worse than rotting fish!
Where’s the guy with monocle when you need him
Bought Twitter for $44 Billion. Sold it to investors for $33 Billion. Congrats on flopping 👏
The entire point is to get Musk’s Tesla share removed as the collateral guarantee for the Twitter purchase.
How much will Musk could claim this 10B+ loss as his tax credit?