Musk's xAI buys social media platform X for $45 billion
eu.usatoday.com
The billionaire's AI startup which kicked off in 2023, recently raised $6 billion from investors at a valuation of $40 billion, sources told Reuters.
  • JeeBaiChow@lemmy.world
    7·
    3 days ago

    So tesla stock is tanking, and he’s at risk of defaulting the loans for the buyout, so he incorporates a new company, and proceeds to buy x at an inflated price, presumably to grant himself a reprieve on the debt, and to serve as a buffer should the value tank even further. Nope, no fraud here. /s

    • tfm@europe.pubOPM
      4·
      3 days ago

      No no you get this wrong. Twitter is invaluable for an AI company. Imagine the great things you get out of it if you’d feed an LLM with all the right wing/Nazi/fake news content there. /s

  • krigo666@lemmy.worldEnglish
    5·
    3 days ago

    Xitter is not worth 45B, last time I read was more like 16B, same kind of financial manipulations than in other of his companies. Got his money back after being court ordered to buy it for 44B.