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World News@lemmy.worldEnglish • 17 days ago

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

cross-posted to:
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 • 17 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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15•17 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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  16 days ago
  “Makes” by selling what exactly?
  
  Also, thats an insane valuation based on earnings. 120x
  - @athairmor@lemmy.world
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    1•16 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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