World News@lemmy.worldEnglish · 10 months ago

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

apnews.com

cross-posted to:
technology@lemmy.world

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 · 10 months 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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ChicoSuave@lemmy.world
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9 months ago
Is this so the loans secured with X stock can’t be called in, forcing Elon to sell the collateral to pay back the loan?

Sure seems like a bullshit business move to retain control of Tesla.

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