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.
  • Sirdubdee@lemmy.worldEnglish
    46·
    5 days ago

    He traded a liability for an asset. Distanced X from his personal assets (Tesla stock) used as collateral. xAI now has massive amounts of debt and Elon just owns the company that owns it.

  • DogPeePoo@lemm.eeEnglish
    26·
    5 days ago

    It’s equivalent to plugging a surge protector into itself— eNdLesS pOweR!!!