World News@lemmy.worldEnglish • 16 days ago

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

apnews.com

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

apnews.com

@Redditsux@lemmy.world to

World News@lemmy.worldEnglish • 16 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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@wewbull@feddit.uk
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15 days ago
“Makes” by selling what exactly?

Also, thats an insane valuation based on earnings. 120x
- @athairmor@lemmy.world
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  1•15 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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