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World News@lemmy.worldEnglish · 5 days ago

Elon Musk sells X to his own xAI for $33 billion in all-stock deal

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technology@lemmy.world

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Elon Musk sells X to his own xAI for $33 billion in all-stock deal

Redditsux@lemmy.world to

World News@lemmy.worldEnglish · 5 days ago

cross-posted to:
technology@lemmy.world

Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday.

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athairmor@lemmy.world
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5 days ago
xAI has raised maybe $12B from investors. And, supposedly, makes $100M/yr.

The valuations are absurd.
- wewbull@feddit.uk
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  4 days ago
  “Makes” by selling what exactly?
  
  Also, thats an insane valuation based on earnings. 120x
  - athairmor@lemmy.world
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    4 days ago
    Subscriptions and licensing, supposedly.
    
    $12B is just how much money investors put into it. The company’s valuation is $80B. Which is insane.

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