'X' Marks xAI's Spot: xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion.

Comments

• lupusblackfur@lemmy.world ⁨6⁩ ⁨days⁩ ago

  Elmo finds yet another way to pad his perceived value…

  Sell shit companies (both of which you own) to yourself at exorbitantly inflated prices with “stock only” trades.

  And no accounting shall be had cause steal-ionnairs just can.

  🙄 🤦‍♀️ 🤡 🖕 🖕

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  • turnip@sh.itjust.works ⁨5⁩ ⁨days⁩ ago

    Blame loose monetary policy, and QE that pumps money into risk assets. Tesla and Bitcoin have many things in common.

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• umbraroze@slrpnk.net ⁨6⁩ ⁨days⁩ ago

  Short summary: Elon gives Elon some Elon and congratulates Elon for being such an Elon, that big money boy he is. Money!

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  • jayandp@sh.itjust.works ⁨5⁩ ⁨days⁩ ago

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• CosmoNova@lemmy.world ⁨6⁩ ⁨days⁩ ago

  I’m not convinced bundling a losing business with an utterly inflated one is the right move to attract investors but then again you shouldn’t invest in an oligarchy in the first place.

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  • Pistcow@lemm.ee ⁨6⁩ ⁨days⁩ ago

    They’re not investors, they’re money launderers.

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• Prox@lemmy.world ⁨6⁩ ⁨days⁩ ago

  These are some stupid company names.

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  • thesohoriots@lemmy.world ⁨6⁩ ⁨days⁩ ago

    If you put them all together they eventually spell a slur.

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• aesthelete@lemmy.world ⁨6⁩ ⁨days⁩ ago

  Lol neither are worth that much.

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  • daddy32@lemmy.world ⁨6⁩ ⁨days⁩ ago

    I don’t know. Look where twitter helped him to get. It is a well working propaganda machine.

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    • Flisty@mstdn.social ⁨6⁩ ⁨days⁩ ago

      @daddy32 @aesthelete yup I'm sure it's worth quite a lot to some larger private investors

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  • max_dryzen@mander.xyz ⁨5⁩ ⁨days⁩ ago

    A firearm isn’t worth much money in the scheme of things either it’s real worth is in publicly displaying it on your person, and having it loaded

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• apfelwoiSchoppen@lemmy.world ⁨6⁩ ⁨days⁩ ago

  A shell game.

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  • InverseParallax@lemmy.world ⁨5⁩ ⁨days⁩ ago

    He was having trouble refinancing given the massive drop in revenue and valuation.

    So just make up a number and buy it off yourself.

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• TransplantedSconie@lemm.ee ⁨6⁩ ⁨days⁩ ago

  It’s all tied to tesla and if that stock tanks it’s game over. Elmo is leveraged to his tits lol.

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  • skozzii@lemmy.ca ⁨6⁩ ⁨days⁩ ago

    As soon as it drops below 180 the whole house comes down.

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• lemmie689@lemmy.sdf.org ⁨6⁩ ⁨days⁩ ago

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• xenomor@lemmy.world ⁨6⁩ ⁨days⁩ ago

  Didn’t he already do this same sort of fuckery with Solar City and Tesla?

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• MisterMoo@lemmy.world ⁨6⁩ ⁨days⁩ ago

  If you don’t have a Twitter account there’s no reason for you to care about this at all.

  Spend your limited time on earth worrying about things that matter.

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  • Ironfist79@lemmy.world ⁨5⁩ ⁨days⁩ ago

    An unelected billionaire committing fraud and destroying our government really does matter.

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    • 13igTyme@lemmy.world ⁨5⁩ ⁨days⁩ ago

      I hate people that say, “I don’t care about politics, it doesn’t impact my life.”

      From federal to local politics impacts every single aspect of your life.

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    • SirQuack@feddit.nl ⁨5⁩ ⁨days⁩ ago

      your government. We, as non-US majority users, are having struggles of our own. Your elected, fascist government isn’t anywhere near top priority for us and you should stop thinking it is.

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  • Ulrich@feddit.org ⁨6⁩ ⁨days⁩ ago

    I wish it didn’t matter.

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• homesweethomeMrL@lemmy.world ⁨6⁩ ⁨days⁩ ago

  So the ridiculously overvalued pump-and-dump paid for the real assets that he then destroyed but will bail out with the magical cauldron of venture capital so everything’s just fine.

  Can’t see any problems here.

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• Alexstarfire@lemmy.world ⁨6⁩ ⁨days⁩ ago

  I have seen 3 different posts and each had a different value for X. The number sends arbitrary. Who gives a shit what he paid for his own company.

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  • rational_lib@lemmy.world ⁨6⁩ ⁨days⁩ ago

    It’s not all him, several other people invested in both. According to some article Elon owns 79% of X, and only 54% of xAI (barely enough to control it). Since the valuation of X in the deal is about $20 billion more what others have estimated ($12.3 billion), it definitely seems like it’s a corrupt bailout 46% funded with other xAI investors’ money, basically netting Elon $10 billion overnight.

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    • surewhynotlem@lemmy.world ⁨6⁩ ⁨days⁩ ago

      Saudi Royals who possibly were convinced that this is ok.

      Convinced? This is how they’ve bribed him.

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• baggachipz@sh.itjust.works ⁨6⁩ ⁨days⁩ ago

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